By Andrea Heisinger
New York, May 7 - Smiths Group plc sold a combined $500 million of notes (Baa2/BBB+) in two tranches Thursday, a market source said.
The $250 million of 6.05% five-year notes priced to yield Treasuries plus 395 basis points, while the $250 million of 7.2% 10-year notes priced to yield Treasuries plus 395 bps.
The notes were priced under Rule 144A.
Bookrunners were Barclays Capital Inc., J.P. Morgan Securities Inc. and Morgan Stanley & Co. Inc.
The engineering company is based in London.
| Issuer: | Smiths Group plc
|
| Issue: | Notes
|
| Total amount: | $500 million
|
| Bookrunners: | Barclays Capital Inc., J.P. Morgan Securities Inc., Morgan Stanley & Co. Inc.
|
| Distribution: | Rule 144A
|
| Trade date: | May 7
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB+
|
|
|
| Five-year notes
|
| Amount: | $250 million
|
| Maturity: | 2014
|
| Coupon: | 6.05%
|
| Spread: | Treasuries plus 395 bps
|
|
|
| 10-year notes
|
| Amount: | $250 million
|
| Maturity: | 2019
|
| Coupon: | 7.2%
|
| Spread: | Treasuries plus 395 bps
|
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