New Issue: NIKE prices $1 billion 3.875% 30-year bonds at Treasuries plus 107 bps

By Aleesia Forni

Virginia Beach, Oct. 26 – NIKE, Inc. priced $1 billion of 3.875% senior notes (A1/AA-/) due Nov. 1, 2045 on Monday at Treasuries plus 107 basis points, according to an informed source and a FWP filing with the Securities and Exchange Commission.

Pricing was at 99.07 to yield 3.928%.

The issue came at the tight end of the Treasuries plus 110 bps area talk, following initial price thoughts in the area of Treasuries plus 125 bps.

BofA Merrill Lynch, Citigroup Global Markets Inc. and Deutsche Bank Securities Inc. are the bookrunners.

The Beaverton, Ore.-based sports footwear and apparel company will use proceeds for general corporate purposes.

Issuer:	NIKE Inc.
Amount:	$1 billion
Description:	Senior notes
Maturity:	Nov. 1, 2045
Bookrunners:	BofA Merrill Lynch, Citigroup Global Markets Inc., Deutsche Bank Securities Inc.
Co-managers:	Goldman, Sachs & Co., J.P. Morgan Securities, LLC, RBC Capital Markets, LLC, Wells Fargo Securities, LLC, Barclays, Credit Agricole Securities (USA) Inc., ING Financial Markets LLC, Santander Investment Securities Inc., Standard Chartered Bank, HSBC Securities (USA) Inc.
Coupon:	3.875%
Price:	99.07
Yield:	3.928%
Spread:	Treasuries plus 107 bps
Trade date:	Oct. 26
Settlement date:	Oct. 29
Ratings:	Moody’s: A1
	Standard & Poor’s: AA-
Price guidance:	Treasuries plus 110 bps area, tightened from Treasuries plus 125 bps area
Make-whole call:	Treasuries plus 20 bps prior to May 1, 2045, then callable at par
Distribution:	SEC-registered

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