By Cristal Cody
Tupelo, Miss., July 23 – Berkshire Hathaway Energy Co. priced $1 billion of 4.45% senior notes due Jan. 15, 2049 (A3/A-/BBB+) on Monday at a spread of 135 basis points over Treasuries, according to a market source.
The notes were initially talked to price in the Treasuries plus 150 bps spread area.
Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Scotia Capital (USA) Inc. and Wells Fargo Securities LLC were the bookrunners.
Proceeds will be used to repay short-term debt and for general corporate purposes.
Berkshire-Hathaway Energy is a Des Moines-based holding company majority owned by Omaha-based Berkshire-Hathaway.
| Issuer: | Berkshire Hathaway Energy Co.
|
| Amount: | $1 billion
|
| Description: | Senior notes
|
| Maturity: | Jan. 15, 2049
|
| Bookrunners: | Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Scotia Capital (USA) Inc. and Wells Fargo Securities LLC
|
| Coupon: | 4.45%
|
| Spread: | Treasuries plus 135 bps
|
| Trade date: | July 23
|
| Ratings: | Moody’s: A3
|
| S&P: A-
|
| Fitch: BBB+
|
| Price guidance: | Treasuries plus 150 bps area
|
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