By Cristal Cody
Tupelo, Miss., April 7 – BAE Systems plc priced a $1.3 billion Rule 144A and Regulation S offering of 3.4% 10-year senior notes (Baa2/BBB/BBB) on Tuesday at a spread of Treasuries plus 275 basis points, according to a market source.
The notes were guided to print at the 312.5 bps over Treasuries area.
Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC and NatWest Markets Securities Inc. were the bookrunners.
The company held fixed income investor calls on Monday.
BAE Systems is a global defense, security and aerospace company based in London and Farnborough, U.K.
| Issuer: | BAE Systems plc
|
| Amount: | $1.3 billion
|
| Description: | Senior notes
|
| Maturity: | April 15, 2030
|
| Bookrunners: | Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC and NatWest Markets Securities Inc
|
| Coupon: | 3.4%
|
| Spread: | Treasuries plus 275 bps
|
| Trade date: | April 7
|
| Ratings: | Moody’s: Baa2
|
| S&P: BBB
|
| Fitch: BBB
|
| Distribution: | Rule 144A and Regulation S
|
| Price guidance: | Treasuries plus 312.5 bps area
|
| Marketing: | Fixed income investor calls
|
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