By Sheri Kasprzak
New York, Nov. 8 - AmerisourceBergen Corp. came to market Tuesday with $500 million of 10-year senior notes, according to a term sheet.
The 3.5% notes (Baa2/A-/A-) were priced at Treasuries plus 150 basis points. The notes were priced at 99.858 to yield 3.517%.
There is a make-whole call at Treasuries plus 25 bps. The notes are callable at par on or after Aug. 15, 2021.
Should a change-of-control triggering event take place, the company can redeem the notes at 101% of the principal amount plus interest.
The joint bookrunners were Bank of America Merrill Lynch, J.P. Morgan Securities LLC and Wells Fargo Securities LLC.
The co-managers were Mitsubishi UFJ Securities (USA) Inc., Scotia Capital (USA) Inc., U.S. Bancorp Investments Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co., Mizuho Securities USA Inc. and PNC Capital Markets LLC.
Proceeds will be used for general corporate purposes.
Based in Chesterbrook, Pa., AmerisourceBergen provides drug distribution and related services to pharmaceutical manufacturers in the United States and Canada.
| Issuer: | AmerisourceBergen Corp.
|
| Issue: | Senior notes
|
| Amount: | $500 million
|
| Maturity: | Nov. 15, 2021
|
| Bookrunners: | Bank of America Merrill Lynch, J.P. Morgan Securities LLC, Wells Fargo Securities LLC
|
| Co-managers: | Mitsubishi UFJ Securities (USA) Inc., Scotia Capital (USA) Inc., U.S. Bancorp Investments Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co., Mizuho Securities USA Inc., PNC Capital Markets LLC
|
| Coupon: | 3.5%
|
| Price: | 99.858
|
| Yield: | 3.517%
|
| Spread: | Treasuries plus 150 bps
|
| Call: | Make-whole call at Treasuries plus 25 bps
|
| Change-of-control put: | At 101%
|
| Pricing date: | Nov. 8
|
| Settlement date: | Nov. 14
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: A-
|
| Fitch: A-
|
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