Symantec offers $1 billion of eight-year split-rated senior notes via two bookrunners

By Cristal Cody

Tupelo, Miss., Feb. 3 – Additional details emerged for Symantec Corp.’s upcoming $1 billion split-rated issue of eight-year senior notes (Baa3/BB+/BB+).

BofA Merrill Lynch and J.P. Morgan Securities LLC are the lead managers of the Rule 144A and Regulation S transaction.

The co-managers are Barclays, Citigroup Global Markets Inc., Mizuho Securities USA Inc., MUFG, RBC Capital Markets LLC, SMBC Nikko Securities America, Inc., TD Securities (USA) LLC and Wells Fargo Securities LLC.

Symantec started a roadshow for the offering on Thursday.

The notes are non-callable for three years.

The deal is contingent on Symantec closing its acquisition of LifeLock, Inc.

Symantec plans to use the proceeds, along with cash on hand, to finance the $2.3 billion cash purchase price of LifeLock, a Tempe, Ariz.-based identity theft protection services provider.

Symantec is a Mountain View, Calif.-based technology company.

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