By Andrea Heisinger
Omaha, Feb. 25 - Whirlpool Corp. priced $500 million 5.5% five-year notes Monday to yield Treasuries plus 260 basis points, a market source said.
The yield was slightly tighter than talk that was 262.5 bps more than Treasuries, the source said.
The non-callable notes (Baa2/BBB/BBB) priced at 99.775 to yield 5.552%.
Bookrunners were Banc of America Securities LLC and RBS Greenwich Capital.
The appliance company is based in Benton Harbor, Mich.
| Issuer: | Whirlpool Corp.
|
| Issue: | Notes
|
| Amount: | $500 million
|
| Maturity: | March 1, 2013
|
| Bookrunners: | Banc of America Securities LLC, RBS Greenwich Capital
|
| Coupon: | 5.5%
|
| Price: | 99.775
|
| Yield: | 5.552%
|
| Spread: | Treasuries plus 260 bps
|
| Call: | Non-callable
|
| Trade date: | Feb. 25
|
| Settlement date: | Feb. 28
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB
|
| Fitch: BBB
|
| Price talk: | 262.5 bps
|
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