Chicago, March 11 – American Honda Finance Corp. (A3/A-) used the Monday market to price $1.75 billion of notes in three parts, according to multiple FWP filings with the Securities and Exchange Commission.
The first two tranches have the same three-year tenor.
The company priced $300 million of floating-rate notes with interest based on SOFR plus 77 basis points at par.
The companion tranche priced as $700 million of 4.9% notes, at 99.945 to yield 4.92%. The spread priced as 63 bps over Treasuries.
The company also sold $750 million of five-year notes. The largest tranche priced with a 4.9% interest rate at 99.956 to yield 4.91%, or at Treasuries plus 83 bps.
The floaters are non-callable. The fixed-rate notes with the three-year tenor may be redeemed early with a Treasuries plus 10 bps make-whole premium. The five-year notes may be called early with a Treasuries plus 15 bps make-whole premium.
ANZ Securities, Inc., MUFG Securities Americas Inc., TD Securities (USA) LLC and U.S. Bancorp Investments, Inc. were the joint bookrunners.
American Honda Finance is a Torrance, Calif.-based financing arm of American Honda Motor Co.
| Issuer: | American Honda Finance Corp.
|
| Amount: | $1.75 billion
|
| Issue: | Notes
|
| Bookrunners: | ANZ Securities, Inc., MUFG Securities Americas Inc., TD Securities (USA) LLC and U.S. Bancorp Investments, Inc.
|
| Co-managers: | Barclays, BNP Paribas Securities Corp., Citigroup Global Markets Inc. and J.P. Morgan Securities LLC
|
| Trade date: | March 11
|
| Settlement date: | March 13
|
| Distribution: | SEC registered
|
|
|
| Floaters
|
| Amount: | $300 million
|
| Issue: | Floating-rate notes
|
| Maturity: | March 12, 2027
|
| Coupon: | SOFR plus 77 bps
|
| Price: | Par
|
| Yield: | SOFR plus 77 bps
|
| Call features: | Non-callable
|
| Cusip: | 02665WFC0
|
|
|
| Three-year notes
|
| Amount: | $700 million
|
| Issue: | Notes
|
| Maturity: | March 12, 2027
|
| Coupon: | 4.9%
|
| Price: | 99.945
|
| Yield: | 4.92%
|
| Spread: | Treasuries plus 63 bps
|
| Call features: | Make-whole call at Treasuries plus 10 bps
|
| Cusip: | 02665WFD8
|
|
|
| Five-year notes
|
| Amount: | $750 million
|
| Issue: | Notes
|
| Maturity: | March 13, 2029
|
| Coupon: | 4.9%
|
| Price: | 99.956
|
| Yield: | 4.91%
|
| Spread: | Treasuries plus 83 bps
|
| Call features: | Make-whole call at Treasuries plus 15 bps
|
| Cusip: | 02665WFE6
|
|
|
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