By Andrea Heisinger
Omaha, Feb. 26 - Hewlett-Packard Co. priced $3 billion of global notes (A2/A/A+) in three tranches, according to an FWP filing with the Securities and Exchange Commission.
The issue was increased from a planned two tranches.
The $750 million floating-rate notes due Sept. 3, 2009 priced at par to yield three-month Libor plus 40 basis points. They are non-callable.
The $1.5 billion 4.5% five-year notes priced at 99.921 to yield Treasuries plus 157 bps. The tranche has a make-whole option of Treasuries plus 25 bps.
The $750 million 5.5% 10-year notes priced at 99.932 to yield Treasuries plus 162 bps. The tranche has a make-whole option of Treasuries plus 30 bps.
Bookrunners were Banc of America Securities LLC, HSBC Securities, J.P. Morgan Securities Inc. and Lehman Brothers Inc.
Co-managers were BNP Paribas Securities Corp., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Greenwich Capital Markets, Inc., Morgan Stanley & Co. Inc. and SG Americas Securities, LLC.
Proceeds will be used for general corporate purposes, including up to $500 million for repayment of outstanding notes and various amounts to repay short-term commercial paper maturing in March and April 2008.
The computer and technology company is based in Palo Alto, Calif.
| Issuer: | Hewlett-Packard Co.
|
| Amount: | $3 billion
|
| Bookrunners: | Banc of America Securities LLC, HSBC Securities, J.P. Morgan Securities Inc., Lehman Brothers Inc.
|
| Co-managers: | BNP Paribas Securities Corp., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Greenwich Capital Markets, Inc., Morgan Stanley & Co. Inc. and SG Americas Securities, LLC
|
| Trade date: | Feb. 25
|
| Settlement date: | March 3
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
| Fitch: A+
|
|
|
| Notes due 2009
|
| Amount: | $750 million
|
| Issue: | Floating-rate notes
|
| Maturity: | Sept. 3, 2009
|
| Coupon: | Three-month Libor plus 40 bps
|
| Price: | Par
|
| Yield: | Three-month Libor plus 40 bps
|
| Call: | Non-callable
|
|
|
| Five-year notes
|
| Amount: | $1.5 billion
|
| Issue: | Global notes
|
| Maturity: | March 1, 2013
|
| Coupon: | 4.5%
|
| Price: | 99.921
|
| Spread: | Treasuries plus 157 bps
|
| Call: | Make-whole at Treasuries plus 25 bps
|
|
|
| 10-year notes
|
| Amount: | $750 million
|
| Issue: | Global notes
|
| Maturity: | March 1, 2018
|
| Coupon: | 5.5%
|
| Price: | 99.932
|
| Spread: | Treasuries plus 162 bps
|
| Call: | Make-whole at Treasuries plus 30 bps
|
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