By Andrea Heisinger
New York, May 18 - Alberto-Culver Co. sold $150 million of 5.15% 10-year unsecured notes on Tuesday to yield Treasuries plus 175 basis points, a source away from the sale said.
The notes (Baa2/BBB/) priced at 99.959 to yield 5.155%.
The notes are callable at a make-whole amount of Treasuries plus 30 bps and feature a change-of-control put of 101%.
Goldman Sachs & Co. and J.P. Morgan Securities Inc. were the active bookrunners. Bank of America Merrill Lynch was a passive bookrunner.
Proceeds are being used for general corporate purposes, including acquisitions and common stock repurchases.
The distributor and marketer of health, beauty, food and household products is based in Melrose Park, Ill.
| Issuer: | Alberto-Culver Co.
|
| Issue: | Unsecured notes
|
| Amount: | $150 million
|
| Maturity: | June 1, 2020
|
| Bookrunners: | Goldman Sachs & Co., J.P. Morgan Securities Inc. (active), Bank of America Merrill Lynch (passive)
|
| Coupon: | 5.15%
|
| Price: | 99.959
|
| Yield: | 5.155%
|
| Spread: | Treasuries plus 175 bps
|
| Call: | Make-whole at Treasuries plus 30 bps
|
| Change-of-control put: | 101%
|
| Trade date: | May 18
|
| Settlement date: | May 21
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB
|
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