New Issue: Western Union prices $300 million 4.25% five-year notes at 145 bps spread

By Cristal Cody

Tupelo, Miss., June 6 – The Western Union Co. sold $300 million of 4.25% five-year senior notes on Wednesday at 99.92 to yield 4.268%, or a spread of Treasuries plus 145 basis points, according to a market source and an FWP filing with the Securities and Exchange Commission.

The notes (Baa2/BBB/BBB+) priced on top of guidance.

Barclays and BofA Merrill Lynch were the bookrunners.

Proceeds will be used for general corporate purposes, which may include repaying the company’s 3.65% notes due 2018.

Western Union is an Englewood, Colo.-based money transfer network.

Issuer:	Western Union Co.
Amount:	$300 million
Description:	Senior notes
Maturity:	June 9, 2023
Bookrunners:	Barclays and BofA Merrill Lynch
Co-managers:	BNY Mellon Capital Markets, LLC, CIBC World Markets Corp., Credit Suisse Securities (USA) LLC, Fifth Third Securities, Inc., J.P. Morgan Securities LLC, Mizuho Securities USA LLC, MUFG, Scotia Capital (USA) Inc. and U.S. Bancorp Investments, Inc.
Coupon:	4.25%
Price:	99.92
Yield:	4.268%
Spread:	Treasuries plus 145 bps
Call feature:	On or after May 9, 2023 at par
Change-of-control put:	101%
Trade date:	June 6
Settlement date:	June 11
Ratings:	Moody’s: Baa2
	S&P: BBB
	Fitch: BBB+
Distribution:	SEC registered
Price guidance:	Treasuries plus 145 bps area

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