By Andrea Heisinger
Omaha, June 19 - Best Buy Co., Inc. priced $500 million 6.75% five-year senior notes on Thursday to yield Treasuries plus 312.5 basis points, an informed source said.
The notes (Baa2/BBB/BBB+) priced at 99.824 to yield 6.79%.
The Rule 144A notes feature a change-of-control put.
Bookrunners were J.P. Morgan Securities Inc. and Goldman Sachs & Co.
The consumer electronics and entertainment chain is based in Richfield, Minn.
| Issuer: | Best Buy Co., Inc.
|
| Issue: | Senior notes
|
| Amount: | $500 million
|
| Maturity: | July 15, 2013
|
| Bookrunners: | J.P. Morgan Securities Inc., Goldman Sachs & Co.
|
| Coupon: | 6.75%
|
| Price: | 99.824
|
| Yield: | 6.79%
|
| Spread: | Treasuries plus 312.5 bps
|
| Change-of-control put: | 101%
|
| Distribution: | Rule 144A
|
| Trade date: | June 19
|
| Settlement date: | June 24
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB
|
| Fitch: BBB+
|
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