By Aleesia Forni
Virginia Beach, Oct. 29 - Altera Corp. $1 billion of senior notes (Baa1/BBB+/) in two tranches on Tuesday, according to an informed source.
There was $600 million of five-year notes sold with a spread of Treasuries plus 135 basis points, or 99.469 to yield 2.613%.
A $400 million tranche of 4.1% 10-year notes sold at Treasuries plus 175 bps. Pricing was at 98.743 to yield 4.255%.
BofA Merrill Lynch, Citigroup Global Markets Inc., Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC were the joint bookrunners.
Proceeds will be used for general corporate purposes, including stock repurchases.
The semiconductor company is based in San Jose, Calif.
| Issuer: | Altera Corp.
|
| Issue: | Senior notes
|
| Amount: | $1 billion
|
| Joint bookrunners: | BofA Merrill Lynch, Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC
|
| Trade date: | Oct. 29
|
| Settlement date: | Nov. 1
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB+
|
|
|
| Notes due 2018
|
| Amount: | $600 million
|
| Maturity: | Nov. 15, 2018
|
| Coupon: | 2.5%
|
| Price: | 99.469
|
| Yield: | 2.613%
|
| Spread: | Treasuries plus 135 bps
|
| Make-whole call: | Treasuries plus 25 bps
|
|
|
| Notes due 2023
|
| Amount: | $400 million
|
| Maturity: | Nov. 15, 2023
|
| Coupon: | 4.1%
|
| Price: | 98.743
|
| Yield: | 4.255%
|
| Spread: | Treasuries plus 175 bps
|
| Make-whole call: | Treasuries plus 30 bps
|
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