By Devika Patel
Knoxville, Tenn., March 20 – Unilever Capital Corp. offered further details about a $2.1 billion sale of guaranteed senior notes (A1/A+/A+) that priced in four tranches on the tight side of guidance on Monday, according to an FWP filed with the Securities and Exchange Commission.
The company priced $400 million of 2.75% three-year notes at a spread of Treasuries plus 48 basis points. These notes priced at 99.489 to yield 2.929%.
Unilever sold $550 million of 3.125% five-year notes at a Treasuries plus 63 bps spread. These notes priced at 99.313 to yield 3.275%.
The company sold $350 million of 3.375% seven-year notes at a spread of 75 bps over Treasuries. These notes priced at 99.034 to yield 3.532%.
Unilever also priced $800 million of 3.5% 10-year notes at a Treasuries plus 83 bps spread. These notes priced at 98.489 to yield 3.682%.
Citigroup Global Markets Inc., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc. and Morgan Stanley & Co. LLC were the bookrunners.
The notes are guaranteed unconditionally by Unilever NV, Unilever plc and Unilever United States, Inc.
Proceeds will be for general corporate purposes.
The U.S. office of the Dutch and English consumer goods company is based in Englewood Cliffs, N.J.
| Issuer: | Unilever Capital Corp.
|
| Guarantors: | Unilever NV, Unilever plc and Unilever United States, Inc.
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| Amount: | $2.1 billion
|
| Description: | Senior notes
|
| Bookrunners: | Citigroup Global Markets Inc., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc. and Morgan Stanley & Co. LLC
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| Trade date: | March 19
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| Settlement date: | March 22
|
| Ratings: | Moody’s: A1
|
| S&P: A+
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| Fitch: A+
|
| Distribution: | SEC registered
|
|
|
| Three-year notes
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| Amount: | $400 million
|
| Maturity: | March 22, 2021
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| Coupon: | 2.75%
|
| Price: | 99.489
|
| Yield: | 2.929%
|
| Spread: | Treasuries plus 48 bps
|
| Call: | Make-whole call at Treasuries plus 10 bps
|
| Price guidance: | Treasuries plus 50 bps area
|
|
|
| Five-year notes
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| Amount: | $550 million
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| Maturity: | March 22, 2023
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| Coupon: | 3.125%
|
| Price: | 99.313
|
| Yield: | 3.275%
|
| Spread: | Treasuries plus 63 bps
|
| Call: | Make-whole call at Treasuries plus 10 bps until Feb. 22, 2023, then a par call
|
| Price guidance: | Treasuries plus 65 bps area
|
|
|
| Seven-year notes
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| Amount: | $350 million
|
| Maturity: | March 22, 2025
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| Coupon: | 3.375%
|
| Price: | 99.034
|
| Yield: | 3.532%
|
| Spread: | Treasuries plus 75 bps
|
| Call: | Make-whole call at Treasuries plus 15 bps until Jan. 22, 2025, then a par call
|
| Price guidance: | Treasuries plus 77 bps area
|
|
|
| 10-year notes
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| Amount: | $800 million
|
| Maturity: | March 22, 2028
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| Coupon: | 3.5%
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| Price: | 98.489
|
| Yield: | 3.682%
|
| Spread: | Treasuries plus 83 bps
|
| Call: | Make-whole call at Treasuries plus 15 bps until Dec. 22, 2027, then a par call
|
| Price guidance: | Treasuries plus 85 bps area
|
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