By Andrea Heisinger
Omaha, Nov. 30 - Harris Corp. priced $400 million of 5.95% 10-year notes Friday to yield Treasuries plus 200 basis points, according to a Securities and Exchange Commission filing.
The notes (Baa1/BBB+) priced at 99.652 to yield 5.997%. They have a make-whole call at Treasuries plus 30 bps.
Bookrunners were Banc of America Securities LLC and Morgan Stanley.
Proceeds will be used for general corporate purposes, including repayment of outstanding debt under the company's commercial paper program incurred in connection with its acquisition of computer software company Multimax.
The communications and information technology company is based in Melbourne, Fla.
| Issuer: | Harris Corp.
|
| Issue: | Notes
|
| Amount: | $400 million
|
| Maturity: | Dec. 1, 2017
|
| Bookrunners: | Banc of America Securities LLC, Morgan Stanley
|
| Coupon: | 5.95%
|
| Price: | 99.652
|
| Yield: | 5.997%
|
| Spread: | Treasuries plus 200 bps
|
| Call: | Make-whole at Treasuries plus 30 bps
|
| Trade date: | Nov. 30
|
| Settlement date: | Dec. 5
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB+
|
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