By Aleesia Forni
Virginia Beach, Sept. 30 – S.C. Johnson & Son Inc. priced $500 million of senior notes (/A-/A-) in tranches due 2024 and 2044, an informed source said.
The sale included $250 million of 3.35% 10-year notes priced at 99.908 to yield 3.361%, or Treasuries plus 87.5 basis points.
Pricing was at the tight end of the Treasuries plus 90 bps area talk.
There was also $250 million of 4.35% 30-year bonds sold with a spread of Treasuries plus 120 bps, at the tight end of the Treasuries plus 125 bps area talk. Pricing was at 99.552 to yield 4.377%.
The bookrunners were BofA Merrill Lynch, Barclays, Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC.
The consumer products company is based in Racine, Wis.
| Issuer: | S.C. Johnson & Son Inc.
|
| Issue: | Senior notes
|
| Amount: | $500 million
|
| Bookrunners: | BofA Merrill Lynch, Barclays, Citigroup Global Markets Inc., Morgan Stanley & Co. LLC
|
| Trade date: | Sept. 30
|
| Settlement date: | Oct. 3
|
| Ratings: | Standard & Poor’s: A-
|
| Fitch: A-
|
|
|
| 10-year notes
|
| Amount: | $250 million
|
| Maturity: | Sept. 30, 2024
|
| Coupon: | 3.35%
|
| Price: | 99.908
|
| Yield: | 3.361%
|
| Spread: | Treasuries plus 87.5 bps
|
| Price talk: | Treasuries plus 90 bps area
|
|
|
| 10-year notes
|
| Amount: | $250 million
|
| Maturity: | Sept. 30, 2044
|
| Coupon: | 4.35%
|
| Price: | 99.552
|
| Yield: | 4.377%
|
| Spread: | Treasuries plus 120 bps
|
| Price talk: | Treasuries plus 125 bps area
|
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