By Devika Patel
Knoxville, Tenn., Aug. 21 – American Honda Finance Corp. priced $1 billion of floating-rate notes (A2/A+) in two parts on Monday, according to FWPs filed with the Securities and Exchange Commission.
The company sold $500 million of floaters due June 24, 2019 at Libor plus 5 basis points with a price of par.
The issuer also sold $500 million of floating-rate notes due Feb. 21, 2020 at Libor plus 15 bps at par.
Deutsche Bank Securities Inc. was the bookrunner.
American Honda Finance is a Torrance, Calif.-based financing arm of American Honda Motor Co.
| Issuer: | American Honda Finance Corp.
|
| Amount: | $1 billion
|
| Description: | Floating-rate notes
|
| Bookrunner: | Deutsche Bank Securities Inc.
|
| Trade date: | Aug. 20
|
| Settlement date: | Aug. 23
|
| Ratings: | Moody’s: A2
|
| S&P: A+
|
| Distribution: | SEC registered
|
|
|
| 2019 floaters
|
| Amount: | $500 million
|
| Maturity: | June 24, 2019
|
| Coupon: | Three-month Libor plus 5 bps, except first coupon, which is one-month Libor plus 5 bps
|
| Price: | Par
|
| Yield: | Libor plus 5 bps
|
| Call features: | Non-callable
|
|
|
| 2020 floaters
|
| Amount: | $500 million
|
| Maturity: | Feb. 21, 2020
|
| Coupon: | Libor plus 15 bps
|
| Price: | Par
|
| Yield: | Libor plus 15 bps
|
| Call features: | Non-callable
|
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