By Cristal Cody
Tupelo, Miss., Nov. 18 – JAB Holdings BV sold $500 million of 2.2% 10-year senior notes (Baa2/BBB+) at 99.688 and a spread of 135 basis points over Treasuries on Wednesday, according to a market source and a news release.
The notes were initially talked to price at the 165 bps spread area.
BofA Securities, Inc., Citigroup Global Markets Inc. and J.P. Morgan Securities LLC were the bookrunners of the Rule 144A and Regulation S offering.
The notes are guaranteed by JAB Holding Co.
JAB held fixed income investor calls for the offering on Monday.
Proceeds will be used for general corporate purposes.
JAB Holdings is a subsidiary of Luxembourg-based investment conglomerate JAB Holding. JAB is the largest shareholder of Keurig Dr Pepper and has controlling stakes in brands including Krispy Kreme Doughnut and Panera Bread.
| Issuer: | JAB Holdings BV
|
| Guarantor: | JAB Holding Co.
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| Amount: | $500 million
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| Description: | Senior notes
|
| Maturity: | Nov. 23, 2030
|
| Bookrunners: | BofA Securities, Inc., Citigroup Global Markets Inc. and J.P. Morgan Securities LLC
|
| Coupon: | 2.2%
|
| Price: | 99.688
|
| Spread: | Treasuries plus 135 bps
|
| Trade date: | Nov. 18
|
| Settlement date: | Nov. 23
|
| Ratings: | Moody’s: Baa2
|
| S&P: BBB+
|
| Distribution: | Rule 144A and Regulation S
|
| Marketing: | Fixed income investor calls
|
| Price guidance: | Treasuries plus 165 bps area
|
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