By Andrea Heisinger
Omaha, March 11 - Lockheed Martin Corp. priced $500 million of five-year notes Tuesday at par to yield 4.121%, or Treasuries plus 157 basis points, an informed source said.
The notes (Baa1/A-/A-) have a make-whole redemption option of Treasuries plus 25 bps.
The issue came at the tight end of price talk, which was in the 160 bps area over Treasuries, the source said.
Goldman Sachs & Co. was the bookrunner. Co-managers were Citigroup Global Markets Inc. and J.P. Morgan Securities Inc.
Proceeds will be used for general corporate purposes.
The aerospace manufacturer and advanced technology company is based in Bethesda, Md.
| Issuer: | Lockheed Martin Corp.
|
| Issue: | Notes
|
| Amount: | $500 million
|
| Maturity: | March 14, 2013
|
| Bookrunner: | Goldman Sachs & Co.
|
| Co-managers: | Citigroup Global Markets Inc., J.P. Morgan Securities Inc.
|
| Coupon: | 4.121%
|
| Price: | Par
|
| Yield: | 4.121%
|
| Spread: | Treasuries plus 157 bps
|
| Call: | Make-whole at Treasuries plus 25 bps
|
| Trade date: | March 11
|
| Settlement date: | March 14
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: A-
|
| Fitch: A-
|
| Price talk: | 160 bps area
|
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