By Cristal Cody
Eureka Springs, Ark., Sept. 19 – Shire Acquisitions Investments Ireland DAC sold $12.1 billion of senior notes in four tranches on Monday, according to a market source.
The company priced $3.3 billion of 1.9% three-year notes with a spread of 100 basis points over Treasuries.
A $3.3 billion tranche of 2.4% five-year notes priced at Treasuries plus 120 bps.
Shire sold $2.5 billion of 2.875% seven-year notes at 135 bps over Treasuries.
The company also placed $3 billion of 3.2% 10-year notes at 150 bps over Treasuries.
The notes priced on the tight side of guidance.
A planned tranche of floating-rate notes was dropped.
BofA Merrill Lynch, Barclays and Morgan Stanley & Co. LLC were the lead managers.
The notes are fully and unconditionally guaranteed by parent company Shire plc.
Investor meetings were held in the U.S. and London markets over the previous week.
Shire plans to use the proceeds to repay borrowings due on Jan. 11, 2017 under its January 2016 bridge facilities agreement and any remaining proceeds for general corporate purposes, according to a 424B5 filing with the Securities and Exchange Commission.
Shire is a global biotechnology company based in Dublin.
| Issuer: | Shire Acquisitions Investments Ireland DAC
|
| Guarantor: | Shire plc
|
| Amount: | $12.1 billion
|
| Description: | Senior notes
|
| Bookrunners: | BofA Merrill Lynch, Barclays, Morgan Stanley & Co. LLC
|
| Trade date: | Sept. 19
|
| Ratings: | Moody’s: Baa3
|
| S&P: BBB-
|
| Distribution: | SEC registered
|
| Marketing: | Roadshow
|
|
|
| Three-year notes
|
| Amount: | $3.3 billion
|
| Maturity: | Sept. 23, 2019
|
| Coupon: | 1.9%
|
| Spread: | Treasuries plus 100 bps
|
| Price guidance: | Treasuries plus 105 bps area, plus or minus 5 bps
|
|
|
| Five-year notes
|
| Amount: | $3.3 billion
|
| Maturity: | Sept. 23, 2021
|
| Coupon: | 2.4%
|
| Spread: | Treasuries plus 120 bps
|
| Price guidance: | Treasuries plus 125 bps area, plus or minus 5 bps
|
|
|
| Seven-year notes
|
| Amount: | $2.5 billion
|
| Maturity: | Sept. 23, 2023
|
| Coupon: | 2.875%
|
| Spread: | Treasuries plus 135 bps
|
| Price guidance: | Treasuries plus 140 bps area, plus or minus 5 bps
|
|
|
| 10-year notes
|
| Amount: | $3 billion
|
| Maturity: | Sept. 23, 2026
|
| Coupon: | 3.2%
|
| Spread: | Treasuries plus 150 bps
|
| Price guidance: | Treasuries plus 155 bps area, plus or minus 5 bps
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
