Published on 6/1/2016 in the Prospect News Investment Grade Daily.
New Issue: Yara International sells $500 million 3.8% 10-year notes at 200 bps over Treasuries
By Cristal Cody
Eureka Springs, Ark., June 1 – Yara International ASA sold $500 million of 3.8% 10-year notes (Baa2/BBB) at 200 basis points over Treasuries on Wednesday, according to a market source.
The notes were talked to price at Treasuries plus 205 bps, plus or minus 5 bps.
Barclays, Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC were the lead managers.
Yara International is a chemical company based in Oslo.
Issuer: | Yara International ASA
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Amount: | $500 million
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Maturity: | June 6, 2026
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Securities: | Senior notes
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Bookrunners: | Barclays, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC
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Coupon: | 3.8%
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Spread: | Treasuries plus 200 bps
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Pricing date: | June 1
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Ratings: | Moody’s: Baa2
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| S&P: BBB
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Distribution: | SEC registered
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Price guidance: | Treasuries plus 205 bps, plus or minus 5 bps
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