By Andrea Heisinger
New York, Aug. 5 - AGL Capital Corp. issued an upsized $300 million in 5.25% 10-year senior notes Wednesday to yield Treasuries plus 162.5 basis points, according to an FWP filing with the Securities and Exchange Commission.
The size was initially $250 million, a source said. The issue priced at the tight end of guidance, which was for a spread in the 175 bps area, an informed source said. The guidance had a margin of plus or minus 12.5 bps.
The notes (Baa1/BBB+/A-) priced at 99.783 to yield 5.278%. They have a make-whole call at Treasuries plus 25 bps.
Bookrunners were Goldman Sachs & Co., SunTrust Robinson Humphrey Inc. and Wells Fargo Securities. Co-managers were Mitsubishi UFJ Securities, Calyon Securities and RBS Securities Inc.
Proceeds will be used for general corporate purposes, including repaying a portion of short-term debt.
The subsidiary of natural gas company AGL Resources Inc. is based in Atlanta.
| Issuer: | AGL Capital Corp.
|
| Issue: | Senior notes
|
| Amount: | $300 million, increased from $250 million
|
| Maturity: | Aug. 15, 2019
|
| Bookrunners: | Goldman Sachs & Co., SunTrust Robinson Humphrey Inc., Wells Fargo Securities
|
| Co-managers: | Mitsubishi UFJ Securities, Calyon Securities, RBS Securities Inc.
|
| Coupon: | 5.25%
|
| Price: | 99.783
|
| Yield: | 5.278%
|
| Spread: | Treasuries plus 162.5 bps
|
| Call: | Make-whole at Treasuries plus 25 bps
|
| Trade date: | Aug. 5
|
| Settlement date: | Aug. 10
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB+
|
| Fitch: A-
|
| Price talk: | 175 bps area, plus or minus 12.5 bps
|
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