By Andrea Heisinger
New York, Aug. 2 - Altria Group, Inc. reopened its 4.125% senior unsecured notes due Sept. 11, 2015 on Monday to add $200 million, according to a market source and an FWP filing with the Securities and Exchange Commission.
The notes (Baa1/BBB/BBB+) priced at 104.868 to yield 3.083% with a spread of Treasuries plus 147 basis points. The notes were talked in the area of 147 bps.
The notes are non-callable and feature a change-of-control put of 101%.
Total issuance is $1 billion, including $800 million issued on June 11 at 225 bps over Treasuries.
The notes are guaranteed by Philip Morris USA Inc.
Barclays Capital Inc., Credit Suisse Securities and Deutsche Bank Securities Inc. ran the books.
Co-managers were CastleOak Securities LP, Citigroup Global Markets Inc., Goldman Sachs & Co., HSBC Securities (USA) Inc., J.P. Morgan Securities Inc., Morgan Stanley & Co. Inc., RBS Securities Inc., Santander Investment Securities Inc., Scotia Capital (USA) Inc. and Williams Capital Group, LP.
Proceeds are being added to a general fund for general corporate purposes.
The holding company for tobacco subsidiaries is based in Richmond, Va.
| Issuer: | Altria Group, Inc.
|
| Guarantor: | Philip Morris USA Inc.
|
| Issue: | Senior unsecured notes, reopened
|
| Amount: | $200 million
|
| Maturity: | Sept. 11, 2015
|
| Bookrunners: | Barclays Capital Inc., Credit Suisse Securities, Deutsche Bank Securities Inc.
|
| Co-managers: | CastleOak Securities LP, Citigroup Global Markets Inc., Goldman Sachs & Co., HSBC Securities (USA) Inc., J.P. Morgan Securities Inc., Morgan Stanley & Co. Inc., RBS Securities Inc., Santander Investment Securities Inc., Scotia Capital (USA) Inc., Williams Capital Group, LP.
|
| Coupon: | 4.125%
|
| Price: | 104.868
|
| Yield: | 3.083%
|
| Spread: | Treasuries plus 147 bps
|
| Call: | Non-callable
|
| Change-of-control put: | 101%
|
| Trade date: | Aug. 2
|
| Settlement date: | Aug. 5
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB
|
| Fitch: BBB+
|
| Total issuance: | $1 billion, including $800 million issued June 11 at Treasuries plus 225 bps
|
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