By Andrea Heisinger
New York, Feb. 18 - Goodrich Corp. priced $300 million of 6.125% 10-year senior unsecured notes Wednesday to yield Treasuries plus 350 basis points, according to a market source and an FWP filing with the Securities and Exchange Commission.
The notes (Baa2/BBB+/BBB+) priced at 99.224 to yield 6.23%.
There is a make-whole call of Treasuries plus 50 bps.
The notes carry a change-of-control put of 101%.
Bookrunners were J.P. Morgan Securities Inc., Banc of America Securities LLC and UBS Investment Bank.
Co-managers were BNY Mellon Capital Markets, LLC, Calyon Securities (USA) Inc., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Greenwich Capital Markets, Inc. and Wachovia Capital Markets, LLC.
Proceeds will be used for general corporate purposes, with the possibility of $119.9 million being used to repay senior notes maturing May 15.
The supplier of systems and services to aerospace and defense industries is based in Charlotte, N.C.
| Issuer: | Goodrich Corp.
|
| Issue: | Senior unsecured notes
|
| Amount: | $300 million
|
| Maturity: | March 1, 2019
|
| Bookrunners: | J.P. Morgan Securities Inc., Banc of America Securities LLC, UBS Investment Bank
|
| Co-managers: | BNY Mellon Capital Markets, LLC, Calyon Securities (USA) Inc., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Greenwich Capital Markets, Inc., Wachovia Capital Markets, LLC
|
| Coupon: | 6.125%
|
| Price: | 99.224
|
| Yield: | 6.23%
|
| Spread: | Treasuries plus 350 bps
|
| Call: | Make-whole at Treasuries plus 50 bps
|
| Change-of-control put: | 101%
|
| Trade date: | Feb. 18
|
| Settlement date: | Feb. 23
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB+
|
| Fitch: BBB+
|
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