By Aleesia Forni
Virginia Beach, Oct. 15 - Leucadia National Corp. priced an upsized $750 million issue of 5.5% senior notes (Ba2/BBB/BBB-) due 2023 with a spread of Treasuries plus 295 basis points, according to an informed source and an FWP filing with the Securities and Exchange Commission.
The notes sold at the tight end of talk, which was set in the area of Treasuries plus 300 bps.
Pricing was at 98.641 to yield 5.68%.
Jefferies & Co. was the bookrunner.
The company plans to use the net proceeds from the offering to repurchase its 8 1/8% senior notes due 2015 and for general corporate purposes.
Leucadia is based in New York and engages in beef processing, manufacturing, gaming entertainment, real estate activities and medical product development.
| Issuer: | Leucadia National Corp.
|
| Amount: | $750 million, upsized from $500 million
|
| Net proceeds: | $736,432,500
|
| Description: | Senior notes
|
| Maturity: | Oct. 18, 2023
|
| Bookrunner: | Jefferies & Co.
|
| Coupon: | 5.5%
|
| Price: | 98.641
|
| Yield: | 5.68%
|
| Spread: | Treasuries plus 295 bps
|
| Trade date: | Oct. 15
|
| Settlement date: | Oct. 18
|
| Ratings: | Moody's: Ba2
|
| Standard & Poor's: BBB
|
| Fitch: BBB-
|
| Make-whole call: | Treasuries plus 45 bps, callable at par on or after Jan. 18, 2023
|
| Price talk: | Treasuries plus 300 bps area
|
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