By Cristal Cody
Tupelo, Miss., Sept. 19 – Australian property company Goodman Group (Baa1/BBB+) affiliate Goodman US Finance Three, LLC sold $850 million of notes in two parts on Tuesday, a market source said.
The company priced $525 million of 3.7% notes due March 15, 2028 at a spread of Treasuries plus 150 basis points.
In the second tranche, Goodman sold $325 million of 4.5% notes due Oct. 15, 2037 at a Treasuries plus 170 bps spread.
HSBC Securities (USA) Inc., J.P. Morgan Securities and RBC Capital Markets, LLC were the bookrunners.
Goodman Group held a roadshow earlier in the month for the offering.
The commercial and industrial property owner, developer and management company is based in Sydney, Australia.
| Issuer: | Goodman US Finance Three, LLC
|
| Amount: | $850 million
|
| Description: | Senior notes
|
| Bookrunners: | HSBC Securities (USA) Inc., J.P. Morgan Securities and RBC Capital Markets, LLC
|
| Trade date: | Sept. 19
|
| Ratings: | Moody’s: Baa1
|
| S&P: BBB+
|
| Marketing: | Roadshow
|
|
|
| 10.5-year notes
|
| Amount: | $525 million
|
| Maturity: | March 15, 2028
|
| Coupon: | 3.7%
|
| Spread: | Treasuries plus 150 bps
|
|
|
| 20-year notes
|
| Amount: | $325 million
|
| Maturity: | Oct. 15, 2037
|
| Coupon: | 4.5%
|
| Spread: | Treasuries plus 170 bps
|
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