By Cristal Cody
Eureka Springs, Ark., Sept. 6 – American Honda Finance Corp. priced $1.75 billion of notes (A1/A+) in three tranches on Tuesday, according to a market source.
American Honda Finance sold $250 million of five-year floating-rate notes with a coupon of Libor plus 61 basis points.
The company priced $1 billion of 1.7% five-year fixed-rate notes at a spread of 63 bps over Treasuries.
In the final tranche, American Honda Finance sold $500 million of 2.3% 10-year notes at 80 bps over Treasuries.
The bookrunners were BofA Merrill Lynch, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC.
American Honda Finance is a Torrance, Calif.-based financing arm of American Honda Motor Co.
Issuer: | American Honda Finance Corp.
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Amount: | $1.75 billion
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Securities: | Notes
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Bookrunners: | BofA Merrill Lynch, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Morgan Stanley & Co. LLC, Wells Fargo Securities, LLC
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Trade date: | Sept. 6
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Ratings: | Moody’s: A1
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| S&P: A+
|
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Five-year floaters
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Amount: | $250 million
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Maturity: | Sept. 9, 2021
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Coupon: | Libor plus 61 bps
|
|
Five-year notes
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Amount: | $1 billion
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Maturity: | Sept. 9, 2021
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Coupon: | 1.7%
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Spread: | Treasuries plus 63 bps
|
|
10-year notes
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Amount: | $500 million
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Maturity: | Sept. 9, 2026
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Coupon: | 2.3%
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Spread: | Treasuries plus 80 bps
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