By Devika Patel
Knoxville, Tenn., March 9 – Western Union Corp. offered further details about its $400 million sale of 3.6% five-year senior notes that priced on Wednesday at a spread of Treasuries plus 155 basis points, according to an FWP filed with the Securities and Exchange Commission.
The notes (Baa2/BBB/BBB+) priced in the middle of guidance in the Treasuries plus 155 bps area, plus or minus 5 bps. They were sold at 99.859 to yield 3.631%.
The notes feature a make-whole call at Treasuries plus 25 bps until Feb. 15, 2022, and then a par call.
The bookrunners were Barclays, BofA Merrill Lynch and Citigroup Global Markets Inc.
Proceeds will be used for general corporate purposes.
Western Union is an Englewood, Colo.-based money transfer network.
| Issuer: | Western Union Corp.
|
| Amount: | $400 million
|
| Description: | Senior notes
|
| Maturity: | March 15, 2022
|
| Bookrunners: | Barclays, BofA Merrill Lynch and Citigroup Global Markets Inc.
|
| Co-managers: | BNY Capital Markets Inc., U.S. Bancorp Investments Inc., CIBC World Markets Corp., Credit Suisse Securities (USA) LLC, Fifth Third Securities Inc., J.P. Morgan Securities LLC and Scotia Capital (USA) Inc.
|
| Coupon: | 3.6%
|
| Price: | 99.859
|
| Yield: | 3.631%
|
| Spread: | Treasuries plus 155 bps
|
| Call feature: | Make-whole call at Treasuries plus 25 bps until Feb. 15, 2022, then a par call
|
| Trade date: | March 8
|
| Settlement date: | March 15
|
| Ratings: | Moody’s: Baa2
|
| S&P: BBB
|
| Fitch: BBB+
|
| Distribution: | SEC registered
|
| Price guidance: | Treasuries plus 155 bps area, plus or minus 5 bps
|
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