By Sheri Kasprzak
New York, Aug. 21 - Fidelity National Financial Inc. sold $400 million of 5.5% 10-year notes at 99.513 to yield 5.564%, or 375 basis points over Treasuries, according to a pricing sheet.
The notes (Baa3/BBB-/) were sold through joint bookrunners Bank of America Merrill Lynch, Barclays, J.P. Morgan Securities LLC and Wells Fargo Securities LLC.
The co-managers were Jefferies & Co., Stephens Inc., Dowling & Partners Securities LLC and Keefe, Bruyette & Woods.
The notes feature a make-whole call at Treasuries plus 50 bps.
Proceeds will be used to fund the repayment at or before maturity of $236.5 million of the company's 5.25% unsecured notes due in March 2013. The remainder will be used for general corporate purposes.
Based in Jacksonville, Fla., Fidelity is a title insurance underwriter.
| Issuer: | Fidelity National Financial Inc.
|
| Issue: | Notes
|
| Amount: | $400 million
|
| Maturity: | Sept. 1, 2022
|
| Bookrunners: | Bank of America Merrill Lynch, Barclays, J.P. Morgan Securities LLC, Wells Fargo Securities LLC
|
| Co-managers: | Jefferies & Co., Stephens Inc., Dowling & Partners Securities LLC, Keefe, Bruyette & Woods
|
| Coupon: | 5.5%
|
| Price: | 99.513
|
| Yield: | 5.564%
|
| Spread: | Treasuries plus 375 bps
|
| Call: | Make-whole call at Treasuries plus 50 bps
|
| Trade date: | Aug. 21
|
| Settlement date: | Aug. 28
|
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