New Issue: H.B. Fuller prices $300 million 4% 10-year senior notes at 165 bps over Treasuries

By Cristal Cody

Tupelo, Miss., Feb. 9 – H.B. Fuller Co. priced $300 million of 4% 10-year senior notes (Baa3/BBB) on Thursday on the tight side of guidance at a spread of 165 basis points over Treasuries, according to a market source and an FWP filing with the Securities and Exchange Commission.

The notes priced at 99.551 to yield 4.055%.

Citigroup Global Markets Inc., J.P. Morgan Securities LLC and BofA Merrill Lynch were the bookrunners.

The company plans to use about $138 million of the proceeds to repay all borrowings under its revolving credit facility and will use the remaining proceeds to repay a portion of its term loan. Any remaining proceeds will be used for general corporate purposes.

The industrial adhesives, sealants, coatings and specialty materials company is based in St. Paul, Minn.

Issuer:	H.B. Fuller Co
Amount:	$300 million
Description:	Senior notes
Maturity:	Feb. 15, 2027
Bookrunners:	Citigroup Global Markets Inc., J.P. Morgan Securities LLC, BofA Merrill Lynch
Senior co-managers:	U.S. Bancorp Investments, Inc., Morgan Stanley & Co. LLC
Co-managers:	HSBC Securities (USA) Inc., MUFG, PNC Capital Markets LLC
Coupon:	4%
Price:	99.551
Yield:	4.055%
Spread:	Treasuries plus 165 bps
Call features:	Make-whole call before Nov. 15, 2026 at greater of par and Treasuries plus 25 bps; on or after Nov. 15, 2026 at par
Trade date:	Feb. 9
Settlement date:	Feb. 14
Ratings:	Moody’s: Baa3
	S&P: BBB
Distribution:	SEC registered
Price guidance:	Treasuries plus 170 bps area, plus or minus 5 bps

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