By Andrea Heisinger
New York, Dec. 6 - Hewlett-Packard Co. sold $3 billion of global debt (A2/BBB+/A) in three tranches late on Tuesday, a market source said.
Full terms were unavailable at press time.
The $650 million of three-year notes priced at a spread of Treasuries plus 225 basis points.
There was an $850 million tranche of five-year paper sold at a spread of 240 bps over Treasuries.
The final part was $1.5 billion of 10-year notes priced at Treasuries plus 260 bps.
Bookrunners were Goldman Sachs & Co., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC.
Proceeds will be used to repay commercial paper and for general corporate purposes.
HP last priced bonds in a $4.5 billion deal in five tranches on Sept. 13. The 3% five-year paper from that deal priced at 215 bps over Treasuries while a 4.375% tranche of 10-year notes sold at 240 bps over Treasuries.
The computer and technology company is based in Palo Alto, Calif.
| Issuer: | Hewlett-Packard Co.
|
| Issue: | Global notes
|
| Amount: | $3 billion
|
| Bookrunners: | Goldman Sachs & Co., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC
|
| Trade date: | Dec. 6
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: BBB+
|
| Fitch: A
|
|
|
| Three-year notes
|
| Amount: | $650 million
|
| Maturity: | 2014
|
| Spread: | Treasuries plus 225 bps
|
|
|
| Five-year notes
|
| Amount: | $850 million
|
| Maturity: | 2016
|
| Spread: | Treasuries plus 240 bps
|
|
|
| 10-year notes
|
| Amount: | $1.5 billion
|
| Maturity: | 2021
|
| Spread: | Treasuries plus 260 bps
|
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