New Issue: Fidelity National prices $600 million of 2.45% notes due 2031 at 180 bps spread

By Cristal Cody

Tupelo, Miss., Sept. 10 – Fidelity National Financial, Inc. priced $600 million of 2.45% senior notes due March 15, 2031 (Baa2/BBB) on Thursday at 99.642 to yield 2.489%, or a spread of 180 basis points over Treasuries, according to a market source and an FWP filing with the Securities and Exchange Commission.

The notes were initially talked to price in the Treasuries plus 205 bps area.

BofA Securities Inc., J.P. Morgan Securities LLC and U.S. Bancorp Investments Inc. were the bookrunners.

Proceeds will be used to repay the $260 million outstanding on the company’s term loan, with remaining proceeds earmarked for general corporate purposes.

The title insurance company is based in Jacksonville, Fla.

Issuer:	Fidelity National Financial, Inc.
Amount:	$600 million
Description:	Senior notes
Maturity:	March 15, 2031
Bookrunners:	BofA Securities Inc., J.P. Morgan Securities LLC and U.S. Bancorp Investments Inc.
Co-managers:	BNP Paribas Securities Corp., Citigroup Global Markets Inc., RBC Capital Markets, LLC, Regions Securities LLC and Wells Fargo Securities, LLC
Coupon:	2.45%
Price:	99.642
Yield:	2.489%
Spread:	Treasuries plus 180 bps
Call features:	Make-whole call before Dec. 15, 2030 at Treasuries plus 30 bps; thereafter at par
Trade date:	Sept. 10
Settlement date:	Sept. 15
Ratings:	Moody’s: Baa2
	S&P: BBB
Distribution:	SEC registered
Price guidance:	Treasuries plus 205 bps area

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