New Issue: National Fuel Gas prices $300 million 3.95% 10-year notes at 180 bps over Treasuries

By Cristal Cody

Tupelo, Miss., Sept. 18 – National Fuel Gas Co. priced $300 million of 3.95% 10-year notes on Monday at a spread of Treasuries plus 180 basis points, according to an FWP filing with the Securities and Exchange Commission.

The notes (Baa3/BBB/BBB) priced at 99.317 to yield 4.034%.

BofA Merrill Lynch, U.S. Bancorp Investments, Inc. and Wells Fargo Securities, LLC were the bookrunners.

Proceeds will be used for general corporate purposes, including to repurchase or redeem the company’s 6.5% senior notes due April 2018.

National Fuel Gas is a Williamsville, N.Y.-based energy company.

Issuer:	National Fuel Gas Co.
Amount:	$300 million
Description:	Notes
Maturity:	Sept. 15, 2027
Bookrunners:	BofA Merrill Lynch, U.S. Bancorp Investments, Inc. and Wells Fargo Securities, LLC
Senior co-managers:	HSBC Securities (USA) Inc. and KeyBanc Capital Markets Inc.
Co-managers:	BB&T Capital Markets, Citizens Capital Markets, Inc., Comerica Securities, Inc. and PNC Capital Markets LLC
Coupon:	3.95%
Price:	99.317
Yield:	4.034%
Spread:	Treasuries plus 180 bps
Call features:	Make-whole call at Treasuries plus 30 bps before June 15, 2027; thereafter at par
Trade date:	Sept. 18
Settlement date:	Sept. 27
Ratings:	Moody’s: Baa3
	S&P: BBB
	Fitch: BBB
Distribution:	SEC registered

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.