New Issue: AmerisourceBergen prices $500 million of 2.8% notes due 2030 at 215 bps spread

By Cristal Cody

Tupelo, Miss., May 12 – AmerisourceBergen Corp. priced $500 million of 2.8% 10-year senior notes (Baa2/A-/A-) on Tuesday at a spread of Treasuries plus 215 basis points, according to a market source and an FWP filed with the Securities and Exchange Commission.

Initial price talk was in the 235 bps spread area.

The notes priced at 99.706 to yield 2.834%.

BofA Securities, Inc., MUFG and U.S. Bancorp Investments, Inc. were the bookrunners.

Proceeds will be used to redeem the company’s 3.5% senior notes due Nov. 15, 2021 and for general corporate purposes.

AmerisourceBergen is a Chesterbrook, Pa.-based pharmaceutical sourcing and distribution services company.

Issuer:	AmerisourceBergen Corp.
Amount:	$500 million
Maturity:	May 15, 2030
Description:	Senior notes
Bookrunners:	BofA Securities, Inc., MUFG and U.S. Bancorp Investments, Inc.
Senior co-managers:	Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Scotia Capital (USA) Inc. and Wells Fargo Securities, LLC
Co-managers:	Credit Suisse Securities (USA) LLC, Mizuho Securities USA LLC, PNC Capital Markets LLC, TD Securities (USA) LLC and KeyBanc Capital Markets
Coupon:	2.8%
Price:	99.706
Yield:	2.834%
Spread:	Treasuries plus 215 bps
Call features:	Make-whole call at Treasuries plus 35 bps before Feb. 15, 2030; thereafter at par
Change-of-control put:	101%
Trade date:	May 12
Settlement date:	May 19
Ratings:	Moody’s: Baa2
	S&P: A-
	Fitch: A-
Distribution:	SEC registered
Price guidance:	Treasuries plus 235 bps area

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