By Reshmi Basu
New York, Oct. 28 - SPI Electricity & Gas Australia Holding Pty Ltd. sold $300 million 10-year bonds Thursday at 99.332 with a 5% coupon to yield 5.086%, or 102 basis points over Treasuries, according to a market source.
The deal came at the tight end of revised price guidance of 102 to 105 basis points over Treasuries. Initial price guidance was set at Treasuries plus 105 basis points.
Citigroup, Deutsche Bank and Morgan Stanley ran the Regulation S deal.
Singapore Power purchased SPI Electricity from U.S.-based TXU Corp. The Australian subsidiary was formerly known as TXU Australia.
| Issuer: | SPI Electricity & Gas Australia Holding Pty Ltd.
|
| Amount: | $300 million
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| Issue: | Euro medium-term note program
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| Maturity: | Nov. 4, 2014
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| Coupon: | 5%
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| Issue Price: | 99.332
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| Yield: | 5.086%
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| Spread: | 102 basis points over U.S. Treasuries
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| Pricing date: | Oct. 28
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| Settlement date: | Nov. 4
|
| Managers: | Citigroup, Deutsche Bank, Morgan Stanley & Co. International
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A-
|
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