By Aleesia Forni
Virginia Beach, Nov. 5 – Stanley Black & Decker Inc. priced a $632.5 million remarketing of its subordinated notes due Nov. 17, 2018 at Treasuries plus 130 basis points on Thursday, according to an FWP filing with the Securities and Exchange Commission.
The 2.451% notes (Baa2/A-/BBB+) were sold at par.
The notes were originally issued as junior subordinated notes included in the convertible preferred units issued in November 2010.
The remarketing agents are BofA Merrill Lynch, Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC.
Stanley Black & Decker is a New Britain, Conn.-based maker of hand tools, power tools and accessories.
Issuer: | Stanley Black & Decker Inc.
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Amount: | $632.5 million
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Description: | Remarketing of subordinated notes
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Maturity: | Nov. 17, 2018
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Remarketing agents: | BofA Merrill Lynch, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC
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Coupon: | 2.451%
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Price: | Par
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Yield: | 2.451%
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Spread: | Treasuries plus 130 bps
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Trade date: | Nov. 5
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Settlement date: | Nov. 17
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Ratings: | Moody’s: Baa2
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| Standard & Poor’s: A-
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| Fitch: BBB+
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Distribution: | SEC registered
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