By Andrea Heisinger
New York, Nov. 14 - Clorox Co. priced $300 million of 3.8% 10-year senior notes on Monday at a spread of Treasuries plus 187.5 basis points, an informed source said.
The notes were priced at the tight end of guidance in the 200 bps area, plus or minus 12.5 bps, the source said.
The notes (Baa1/BBB+/) were sold at 99.097 to yield 3.91%.
The securities have a make-whole call at 30 bps over Treasuries and feature a change-of-control put at 101%.
Bookrunners were Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Wells Fargo Securities LLC.
Senior co-managers were BNP Paribas Securities Corp., Goldman Sachs & Co. and Mitsubishi UFJ Securities (USA) LLC.
Co-managers were Blaylock Robert Van LLC, Fifth Third Securities Inc., Morgan Stanley & Co. LLC, PNC Capital Markets LLC and Williams Capital Group LP.
Proceeds are being used to retire commercial paper.
The consumer products company is based in Oakland, Calif.
| Issuer: | Clorox Co.
|
| Issue: | Senior notes
|
| Amount: | $300 million
|
| Maturity: | Nov. 15, 2021
|
| Bookrunners: | Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Wells Fargo Securities LLC
|
| Senior co-managers: | BNP Paribas Securities Corp., Goldman Sachs & Co., Mitsubishi UFJ Securities (USA) LLC
|
| Co-managers: | Blaylock Robert Van LLC, Fifth Third Securities Inc., Morgan Stanley & Co. LLC, PNC Capital Markets LLC, Williams Capital Group LP
|
| Coupon: | 3.8%
|
| Price: | 99.097
|
| Yield: | 3.91%
|
| Spread: | Treasuries plus 187.5 bps
|
| Call: | Make-whole at Treasuries plus 30 bps
|
| Change-of-control put: | 101%
|
| Trade date: | Nov. 14
|
| Settlement date: | Nov. 17
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB+
|
| Fitch: BBB+
|
| Price talk: | 200 bps area, plus or minus 12.5 bps
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
