By Wendy Van Sickle
Columbus, Ohio, Feb. 1 – Tyco Electronics Group SA priced $600 million of 2.5% 10-year senior notes (A-/A-) at 98.033 to yield 2.726%, or Treasuries plus 93 basis points, on Tuesday, according to an FWP filed with the Securities and Exchange Commission.
The notes feature a make-whole call until three months prior to maturity and then a par call.
BNP Paribas Securities Corp., Deutsche Bank Securities Inc. and Goldman Sachs & Co. LLC are the bookrunners.
Proceeds from the deal will be used for general corporate purposes.
The notes are fully and unconditionally guaranteed by parent company TE Connectivity Ltd., a Schaffhausen, Switzerland-based maker of connectivity and sensor solutions for use in autos, planes, power grids, appliances, electronics and other products.
Tyco Electronics is a Luxembourg-based company.
| Issuer: | Tyco Electronics Group SA
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| Guarantor: | TE Connectivity Ltd.
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| Amount: | $600 million
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| Issue: | Senior notes
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| Maturity: | Feb. 4, 2032
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| Bookrunners: | BNP Paribas Securities Corp., Deutsche Bank Securities Inc. and Goldman Sachs & Co. LLC
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| Co-managers: | Academy Securities, Inc., Barclays, Commerz Markets LLC, Credit Suisse Securities (USA) LLC, HSBC Securities (USA) Inc., Intesa Sanpaolo SpA and SMBC Nikko Securities America, Inc.
|
| Coupon: | 2.5%
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| Price: | 98.033
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| Yield: | 2.726%
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| Spread: | Treasuries plus 93 bps
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| Call: | Make-whole call at Treasuries plus 15 bps until Nov. 4, 2031, then par call
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| Trade date: | Feb. 1
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| Settlement date: | Feb. 4
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| Ratings: | S&P: A-
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| Fitch: A-
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| Distribution: | SEC registered
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| Cusip: | 902133AY3
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