By Andrea Heisinger
New York, Jan. 22 - Electricite de France SA priced $5 billion of notes (Aa3/A+/A+) in three tranches Wednesday, with full terms coming out Thursday after a late pricing, a market source said.
The $1.25 billion of 5.5% five-year notes priced at 99.603 to yield 5.592%, or Treasuries plus 400 basis points.
The $2 billion of 6.5% 10-year notes priced at 99.688 to yield 6.543%, or Treasuries plus 400 bps.
The $1.75 billion of 6.95% 30-year notes priced at 98.551 to yield 7.067%, or Treasuries plus 387.5 bps.
All of the notes are non-callable.
The notes were sold under Rule 144A and Regulation S.
Bookrunners were Banc of America Securities LLC, Barclays Capital Inc., BNP Paribas Securities and HSBC Securities.
Co-managers were Bank of Tokyo-Mitsubishi UFJ Securities, Calyon Securities and Societe Generale.
Proceeds will be used to repay amounts outstanding under credit facilities and for general corporate purposes, which may include partial financing of certain already disclosed acquisitions.
The main electricity generation and distribution company in France is based in Paris.
| Issuer: | Electricite de France SA
|
| Issue: | Notes
|
| Amount: | $5 billion
|
| Bookrunners: | Banc of America Securities LLC, Barclays Capital Inc., BNP Paribas Securities, HSBC Securities
|
| Co-managers: | Bank of Tokyo-Mitsubishi UFJ Securities, Calyon Securities, Societe Generale
|
| Distribution: | Rule 144A and Regulation S
|
| Trade date: | Jan. 21
|
| Settlement date: | Jan. 26
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: A+
|
| Fitch: A+
|
|
|
| Five-year notes
|
| Amount: | $1.25 billion
|
| Maturity: | Jan. 26, 2014
|
| Coupon: | 5.5%
|
| Price: | 99.603
|
| Yield: | 5.592%
|
| Spread: | Treasuries plus 400 bps
|
| Call: | Non-callable
|
|
|
| 10-year notes
|
| Amount: | $2 billion
|
| Maturity: | Jan. 26, 2019
|
| Coupon: | 6.5%
|
| Price: | 99.688
|
| Yield: | 6.543%
|
| Spread: | Treasuries plus 400 bps
|
| Call: | Non-callable
|
|
|
| 30-year notes
|
| Amount: | $1.75 billion
|
| Maturity: | Jan. 26, 2039
|
| Coupon: | 6.95%
|
| Price: | 98.551
|
| Yield: | 7.067%
|
| Spread: | Treasuries plus 387.5 bps
|
| Call: | Non-callable
|
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