By Andrea Heisinger
New York, Dec. 18 - Altria Group, Inc. priced $775 million 7.125% 18-month senior unsecured notes late Thursday at par, an informed source said.
The non-callable notes (Baa1/BBB/BBB+) feature a change-of-control put of 101% and are guaranteed by Philip Morris USA Inc.
Bookrunner was Barclays Capital Inc.
Proceeds will be used to fund a portion of consideration in connection with the acquisition of tobacco company UST Inc.
The tobacco holding company is based in Richmond, Va.
| Issuer: | Altria Group, Inc.
|
| Guarantor: | Philip Morris USA Inc.
|
| Issue: | Senior unsecured notes
|
| Amount: | $775 million
|
| Maturity: | June 22, 2010
|
| Bookrunner: | Barclays Capital Inc.
|
| Coupon: | 7.125%
|
| Price: | Par
|
| Yield: | 7.125%
|
| Call: | Non-callable
|
| Change-of-control put: | 101%
|
| Trade date: | Dec. 18
|
| Settlement date: | Dec. 22
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB
|
| Fitch: BBB+
|
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