Published on 9/26/2007 in the Prospect News Investment Grade Daily.
New Issue: Lehman Brothers prices $1.135 billion in extendible floaters due 2013 at par
By Andrea Heisinger
Omaha, Sept. 26 - Lehman Brothers Holdings, Inc. priced $1.135 billion in extendible floating-rate senior notes Wednesday at par.
The notes (A1/A+/AA-) have an initial maturity of 2008 but extendible by holders in one year increments up to final maturity of 2013.
Their coupon is three-month Libor plus 16 basis points initially, with the spread increasing to 18 bps, 20 bps, 22 bps and 24 bps on successive annual reset dates.
Lehman Brothers Inc. was sole bookrunner.
Issuer: | Lehman Brothers Holdings Inc.
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Issue: | Extendible floating-rate senior notes
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Amount: | $1.135 billion
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Maturity: | Oct. 27, 2008, extendible to June 27, 2013
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Bookrunner: | Lehman Brothers Inc.
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Coupon: | Three-month Libor plus 16 bps, stepping up to 24 bps
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Price: | Par
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Call: | At par on or after June 27, 2012
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Trade date: | Sept. 26
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Settlement date: | Sept. 27
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Ratings: | Moody's: A1
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| Standard & Poor's: A+
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| Fitch: AA-
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