By Aleesia Forni
Virginia Beach, Sept. 22 – American Transmission Systems Inc. sold $400 million of 5% senior notes due 2044 with a spread of Treasuries plus 178 basis points on Monday, an informed source said.
The notes (Baa2/BBB-/) sold at the tight end of guidance, which was set in the Treasuries plus 180 bps area.
Pricing was at 99.007 to yield 5.065%.
RBC Capital Markets LLC, RBS Securities Inc. and U.S. Bancorp Investments Inc. were the bookrunners for the Rule 144A and Regulation S deal.
The provider of transmission services is based in Akron, Ohio.
| Issuer: | American Transmission Systems Inc.
|
| Amount: | $400 million
|
| Description: | Senior notes
|
| Maturity: | 2044
|
| Bookrunners: | RBC Capital Markets LLC, RBS Securities Inc., U.S. Bancorp Investments Inc.
|
| Coupon: | 5%
|
| Price: | 99.007
|
| Yield: | 5.065%
|
| Spread: | Treasuries plus 178 bps
|
| Trade date: | Sept. 22
|
| Settlement date: | Sept. 25
|
| Ratings: | Moody’s: Baa2
|
| Standard & Poor's: BBB-
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Treasuries plus 180 bps area
|
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