By Andrea Heisinger
New York, Aug. 17 - Baxter International, Inc. priced $500 million 4.5% 10-year senior notes Monday to yield Treasuries plus 105 basis points, according to an FWP filing with the Securities and Exchange Commission.
The notes (A3/A+/A) priced at 99.666 to yield 4.542%. They have a make-whole call at Treasuries plus 20 bps and feature a change-of-control put of 101%.
Bookrunners were Bank of America Merrill Lynch, J.P. Morgan Securities Inc. and RBS Securities Inc. Co-managers were Citigroup Global Markets Inc., Credit Suisse Securities, Goldman Sachs & Co. and UBS Investment Bank.
Proceeds are going for general corporate purposes, including refinancing of debt.
The diversified health care company is based in Deerfield, Ill.
| Issuer: | Baxter International, Inc.
|
| Issue: | Senior notes
|
| Amount: | $500 million
|
| Maturity: | Aug. 15, 2019
|
| Bookrunners: | Bank of America Merrill Lynch, J.P. Morgan Securities Inc., RBS Securities Inc.
|
| Co-managers: | Citigroup Global Markets Inc., Credit Suisse Securities, Goldman Sachs & Co., UBS Investment Bank
|
| Coupon: | 4.5%
|
| Price: | 99.666
|
| Yield: | 4.542%
|
| Spread: | Treasuries plus 105 bps
|
| Call: | Make-whole at Treasuries plus 20 bps
|
| Change-of-control put: | 101%
|
| Trade date: | Aug. 17
|
| Settlement date: | Aug. 20
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A+
|
| Fitch: A
|
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