By Aleesia Forni
Virginia Beach, Va., Sept. 12 - Weyerhaeuser Co. priced a $500 million offering of 4.625% notes (Baa3/BBB-/) due Sept. 15, 2023 on Thursday, according to an FWP filing with the Securities and Exchange Commission.
The deal came at 99.898 for a spread of Treasuries plus 175 basis points.
Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC were the joint bookrunners.
The company plans to use the proceeds, together with cash on hand, to repay existing debt.
Weyerhaeuser is a timber company based in Federal Way, Wash.
| Issuer: | Weyerhaeuser Co.
|
| Amount: | $500 million
|
| Proceeds: | $495.2 million
|
| Description: | Notes
|
| Maturity: | Sept. 15, 2023
|
| Bookrunners: | Morgan Stanley & Co., J.P. Morgan Securities LLC
|
| Coupon: | 4.625%
|
| Price: | 99.898
|
| Spread: | Treasuries plus 175 bps
|
| Trade date: | Sept. 12
|
| Settlement date: | Sept. 19
|
| Ratings: | Moody's: Baa3
|
| Standard & Poor's: BBB-
|
| Make-whole call: | Treasuries plus 30 bps
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
