By Andrea Heisinger
Omaha, Nov. 29 - Textron, Inc. priced $350 million of 5.6% 10-year notes Thursday to yield Treasuries plus 165 basis points, a market source said.
The notes (A3/A-) priced at 99.993 to yield 5.601%.
There is a make-whole call of Treasuries plus 25 bps.
Bookrunners were Banc of America Securities LLC, Citigroup and Goldman Sachs.
Proceeds will be used for general corporate purposes, including repaying a portion of commercial paper incurred to fund the acquisition of United Industrial Corp.
The aircraft, industrial and finance company is based in Providence, R.I.
| Issuer: | Textron, Inc.
|
| Issue: | Notes
|
| Amount: | $350 million
|
| Maturity: | Dec. 1, 2017
|
| Bookrunners: | Banc of America Securities LLC, Citigroup, Goldman Sachs
|
| Coupon: | 5.6%
|
| Price: | 99.993
|
| Yield: | 5.601%
|
| Spread: | Treasuries plus 165 bps
|
| Call: | Make-whole at Treasuries plus 25 bps
|
| Trade date: | Nov. 29
|
| Settlement date: | Dec. 4
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A-
|
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