By Cristal Cody
Tupelo, Miss., March 20 – Heineken NV priced $1.75 billion of notes (Baa1/BBB+/) in two tranches on the tight side of talk on Monday, a market source said.
The company sold $1.1 billion of 3.5% notes due Jan. 29, 2028 at a spread of Treasuries plus 110 basis points. Talk was at Treasuries plus 115 bps area, plus or minus 5 bps.
Heineken offered $650 million of 4.35% notes due March 29, 2047 at a Treasuries plus 130 bps spread. Guidance on the 30-year notes was in the Treasuries plus 135 bps area, plus or minus 5 bps.
Barclays, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC were the lead managers.
Heineken is a brewery based in Amsterdam.
| Issuer: | Heineken NV
|
| Amount: | $1.75 billion
|
| Description: | Notes
|
| Bookrunners: | Barclays, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC
|
| Trade date: | March 20
|
| Ratings: | Moody’s: Baa1
|
| S&P: BBB+
|
|
|
| Ten-year notes
|
| Amount: | $1.1 billion
|
| Maturity: | Jan. 29, 2028
|
| Coupon: | 3.5%
|
| Spread: | Treasuries plus 110 bps
|
| Price guidance: | Treasuries plus 115 bps area, plus or minus 5 bps
|
|
|
| Thirty-year notes
|
| Amount: | $650 million
|
| Maturity: | March 29, 2047
|
| Coupon: | 4.35%
|
| Spread: | Treasuries plus 130 bps
|
| Price guidance: | Treasuries plus 135 bps area, plus or minus 5 bps
|
|
|
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