Heineken tapping market for benchmark notes in four maturities

By Andrea Heisinger

New York, Oct. 2 - Heineken NV is pricing a benchmark-sized offering of notes (Baa1/BBB+/) in four maturities on Tuesday, a source close to the trade said.

A tranche of three-year notes is talked in the Treasuries plus 55 basis points to 65 bps range after initially being talked in the Treasuries plus 80 bps area.

The five-year notes are talked in the Treasuries plus 85 bps to 95 bps range after initially having guidance in the 110 bps area.

The notes due 2023 are talked in the Treasuries plus 115 bps to 125 bps range after previously being talked in the 140 bps area.

The tranche of 30-year bonds has revised guidance in the Treasuries plus 130 bps to 140 bps range. The tranche was previously talked in the 160 bps area with.

The tranches feature a change-of-control put at 101%.

Barclays, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC are the bookrunners.

The brewery is based in Amsterdam.

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