By Aleesia Forni
Virginia Beach, Oct. 13 – S.C. Johnson & Son Inc. sold an upsized $850 million offering of 4.75% 31-year senior notes (A/A-) on Tuesday at Treasuries plus 187.5 basis points, a source said.
The issue was upsized from an expected $500 million.
Price guidance was set in the 190 bps area over Treasuries, having tightened from talk set in the 215 bps area over Treasuries.
Bookrunners are BofA Merrill Lynch, Citigroup Global Markets Inc., Credit Suisse Securities and J.P. Morgan Securities LLC.
The notes were sold via Rule 144A and Regulation S.
The consumer products company is based in Racine, Wis.
| Issuer: | S.C. Johnson & Son Inc.
|
| Amount: | $850 million, upsized from $500 million
|
| Description: | Senior notes
|
| Maturity: | Oct. 15, 2046
|
| Bookrunners: | BofA Merrill Lynch, Citigroup Global Markets Inc., Credit Suisse Securities, J.P. Morgan Securities LLC
|
| Coupon: | 4.75%
|
| Spread: | Treasuries plus 187.5 bps
|
| Trade date: | Oct. 13
|
| Ratings: | Moody’s: A
|
| Standard & Poor’s: A-
|
| Distribution: | Rule 144A, Regulation S
|
| Price guidance: | Treasuries plus 190 bps area, tightened from Treasuries plus 215 bps area
|
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