By Aleesia Forni
Virginia Beach, Sept. 30 – United Parcel Service, Inc. sold a $46.5 million tap of its existing floating-rate senior notes (Aa3/A+) due Sept. 15, 2065 at par to yield Libor minus 30 basis points on Wednesday, according to an FWP filing with the Securities and Exchange Commission.
Bookrunners are UBS Securities LLC and Deutsche Bank Securities Inc.
The notes may be called in 2045 at 105 and then at amounts declining annually by 50 bps until 2055, when the notes are callable at par.
The notes are putable on each Sept. 15 until Sept. 15, 2020 at 98, on each Sept. 15 to Sept. 15, 2025 at 99 and on Sept. 15, 2026 and every third year thereafter at par until Sept. 15, 2062.
The original $57,726,000 issue priced on Sept. 14.
Proceeds will be used for general corporate purposes.
The package delivery and supply chain management company is based in Atlanta.
| Issuer: | United Parcel Service, Inc.
|
| Amount: | $45.5 million
|
| Description: | Add-on to floating-rate senior notes
|
| Maturity: | Sept. 15, 2065
|
| Bookrunners: | UBS Securities LLC, Deutsche Bank Securities Inc.
|
| Coupon: | Libor minus 30 bps
|
| Price: | Par
|
| Yield: | Libor minus 30 bps
|
| Call features: | Callable on Sept. 15, 2045 at 105 and then at amounts declining annually by 50 bps until Sept. 15, 2055, when the notes are callable at par
|
| Put option: | Putable on each Sept. 15 from 2015 to 2020 at 98, on each Sept. 15 from 2021 to 2025 at 99 and on Sept. 15, 2026 and every third year thereafter at par
|
| Trade date: | Sept. 30
|
| Settlement date: | Oct. 5
|
| Ratings: | Moody’s: Aa3
|
| Standard & Poor’s: A+
|
| Distribution: | SEC registered
|
| Total issue size: | $104,226,000, including $57,726,000 issue priced on Sept. 14
|
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