By Aleesia Forni
Virginia Beach, Jan. 14 - Electricite de France SA priced $4.7 billion of senior notes in five tranches, according to a market source.
The sale included $750 million of floating-rate notes due 2017 priced at par to yield Libor plus 46 basis points.
A $1 billion tranche of 1.15% notes due 2017 priced at 99.561 to yield 1.3%, or Treasuries plus 55 basis points.
Pricing was at the tight end of talk.
There was also a $1.25 billion tranche of 2.15% notes due 2019 priced at 98.852 to yield 2.395% or Treasuries plus 80 bps.
The notes sold at the tight end of price talk.
A $1 billion 4.875% issue of 30-year bonds was sold at 96.726 to yield 5.089%.
Pricing was at Treasuries plus 130 bps, on top of talk.
Finally, $700 million of 6% 100-year notes priced with a spread of 240 bps over Treasuries.
The notes sold at 96.953 to yield 6.189%.
Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and Socitie Generale were the joint bookrunners.
The main electricity generation and distribution company in France is based in Paris.
| Issuer: | Electricite de France SA
|
| Issue: | Senior notes
|
| Amount: | $4.7 billion
|
| Joint bookrunners: | Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Socitie Generale
|
| Trade date: | Jan. 13
|
| Settlement date: | Jan. 22
|
|
|
| Floaters due 2017
|
| Amount: | $750 million
|
| Maturity: | Jan. 20, 2017
|
| Coupon: | Libor plus 46 bps
|
| Price: | Par
|
| Yield: | Libor plus 46 bps
|
|
|
| Notes due 2017
|
| Amount: | $1 billion
|
| Maturity: | Jan. 20, 2017
|
| Coupon: | 1.15%
|
| Price: | 99.561
|
| Yield: | 1.3%
|
| Spread: | Treasuries plus 55 bps
|
| Price talk: | Treasuries plus 55 bps to 60 bps
|
|
|
| Notes due 2019
|
| Amount: | $1.25 billion
|
| Maturity: | Jan. 22, 2019
|
| Coupon: | 2.15%
|
| Price: | 98.852
|
| Yield: | 2.395%
|
| Spread: | Treasuries plus 80 bps
|
| Price talk: | Treasuries plus 80 bps to 85 bps
|
|
|
| Notes due 2044
|
| Amount: | $1 billion
|
| Maturity: | Jan. 22, 2044
|
| Coupon: | 4.875%
|
| Price: | 96.726
|
| Yield: | 5.098%
|
| Spread: | Treasuries plus 130 bps
|
| Price talk: | Treasuries plus 130 bps
|
|
|
| Notes due 2114
|
| Amount: | $700 million
|
| Maturity: | Jan. 22, 2114
|
| Coupon: | 6%
|
| Price: | 96.953
|
| Yield: | 6.189%
|
| Spread: | Treasuries plus 240 bps
|
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