By Andrea Heisinger
New York, Sept. 30 - Tyco International Finance SA sold $500 million of 4.125% five-year unsecured notes Wednesday to yield Treasuries plus 187.5 basis points, according to an FWP filing with the Securities and Exchange Commission.
The notes (Baa1/BBB+/BBB+) priced at 99.653 to yield 4.202%. They have a make-whole call at Treasuries plus 30 bps and feature a change-of-control put of 101%.
Bookrunners were Bank of America Merrill Lynch and J.P. Morgan Securities Inc.
Co-managers were Citigroup Global Markets, Morgan Stanley, Barclays Capital, BNP Paribas Securities, Deutsche Bank Securities, Goldman Sachs & Co., UBS Securities and Williams Capital Group LP.
Proceeds will be used for general corporate purposes, including repayment of debt maturing in 2011.
The deal is guaranteed by Tyco International Ltd.
The security, fire and industrial products company has its U.S. headquarters in Princeton, N.J.
| Issuer: | Tyco International Finance SA
|
| Guarantor: | Tyco International Ltd.
|
| Issue: | Unsecured notes
|
| Amount: | $500 million
|
| Maturity: | Oct. 15, 2014
|
| Bookrunners: | Bank of America Merrill Lynch, J.P. Morgan Securities Inc.
|
| Co-managers: | Citigroup Global Markets, Morgan Stanley, Barclays Capital, BNP Paribas Securities, Deutsche Bank Securities, Goldman Sachs & Co., UBS Securities, Williams Capital Group LP
|
| Coupon: | 4.125%
|
| Price: | 99.653
|
| Yield: | 4.202%
|
| Spread: | Treasuries plus 187.5 bps
|
| Call: | Make-whole at Treasuries plus 30 bps
|
| Change-of-control put: | 101%
|
| Trade date: | Sept. 30
|
| Settlement date: | Oct. 5
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB+
|
| Fitch: BBB+
|
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