By Andrea Heisinger
New York, April 2 - Samsung Electronics America, Inc. priced $1 billion of 1.75% five-year notes on Monday to yield Treasuries plus 80 basis points, a source close to the trade said.
The paper sold tighter than guidance in the 90 bps area, the source added.
The notes (A1/A/) were priced at 99.634 to yield 1.827%. The paper is non-callable, the source said.
The deal was done under Rule 144A and Regulation S.
Bank of America Merrill Lynch, Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Samsung were the bookrunners.
Proceeds will be used for the expansion of semiconductor fabrication facilities in the United States and for general corporate purposes.
The notes are guaranteed by Samsung Electronics Co. Ltd.
The U.S. division of the South Korean electronics and home appliance products maker is based in Ridgefield, N.J.
| Issuer: | Samsung Electronics America, Inc.
|
| Guarantor: | Samsung Electronics Co. Ltd.
|
| Issue: | Notes
|
| Amount: | $1 billion
|
| Maturity: | April 10, 2017
|
| Bookrunners: | Bank of America Merrill Lynch, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Samsung
|
| Coupon: | 1.75%
|
| Price: | 99.634
|
| Yield: | 1.827%
|
| Spread: | Treasuries plus 80 bps
|
| Call: | Non-callable
|
| Distribution: | Rule 144A, Regulation S
|
| Trade date: | April 2
|
| Settlement date: | April 10
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A
|
| Price talk: | 90 bps area
|
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