By William Gullotti and Cristal Cody
Buffalo, N.Y., April 4 – Engie SA priced $2 billion of bonds in a three-part Regulation S and Rule 144A deal on Wednesday, according to information provided by a market source.
As previously reported, the company held fixed-income investor calls and conducted a presentation for the offering on Tuesday.
Engie priced $750 million of 5.25% notes due 2029 at a spread of 100 basis points over Treasuries, under initial talk in the Treasuries plus 130 bps area.
The second $750 million tranche carries a 5.625% coupon, matures in 2034, and priced at Treasuries plus 128 bps. Initial price talk for the 5.625% notes was in the Treasuries plus 160 bps area.
The longest tranche matures in 2054 and totals $500 million. The notes priced at 148 bps over Treasuries, versus initial talk in the Treasuries plus 185 bps area, and has a 5.875% coupon.
BofA Securities, Deutsche Bank, HSBC, Mizuho and Morgan Stanley are the bookrunners.
The natural gas and electricity supplier is based in Courbevoie, France.
| Issuer: | Engie SA
|
| Amount: | $2 billion
|
| Issue: | Bonds
|
| Bookrunners: | BofA Securities, Deutsche Bank, HSBC, Mizuho and Morgan Stanley
|
| Trade date: | April 3
|
| Marketing: | Investor calls
|
| Distribution: | Regulation S, Rule 144A
|
|
|
| Five-year notes
|
| Amount: | $750 million
|
| Maturity: | April 10, 2029
|
| Coupon: | 5.25%
|
| Spread: | Treasuries plus 100 bps
|
| Price talk: | Treasuries plus 130 bps area
|
|
|
| 10-year notes
|
| Amount: | $750 million
|
| Maturity: | April 10, 2034
|
| Coupon: | 5.625%
|
| Spread: | Treasuries plus 128 bps
|
| Price talk: | Treasuries plus 160 bps area
|
|
|
| 30-year notes
|
| Amount: | $500 million
|
| Maturity: | April 10, 2054
|
| Coupon: | 5.875%
|
| Spread: | Treasuries plus 148 bps
|
| Price talk: | Treasuries plus 185 bps area
|
|
|
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