By Devika Patel
Knoxville, Tenn., April 17 – Walmart Inc. offered further details about a $4 billion issue of fixed-rate senior notes (Aa2/AA/AA) that priced in three tranches on the tight side of guidance on Tuesday, according to an FWP filed with the Securities and Exchange Commission.
A $1.5 billion tranche of 2.85% five-year notes priced with a Treasuries plus 47 basis points spread. These notes priced at 99.878 to yield 2.876%.
The $1.25 billion of 3.05% seven-year notes came at a spread of 57 bps over Treasuries. These notes priced at 99.868 to yield 3.071%.
Walmart sold $1.25 billion of 3.25% 10-year notes with a Treasuries plus 67 bps spread. These notes priced at 99.882 to yield 3.264%.
Credit Suisse Securities (USA) LLC, Goldman Sachs & Co. LLC, Mizuho Securities USA LLC, Morgan Stanley & Co. LLC, BNP Paribas Securities Corp. and NatWest Markets Securities Inc. were the managers.
Proceeds will be used for general corporate purposes, including debt repayment.
The discount retailer is based in Bentonville, Ark.
Issuer: | Walmart Inc.
|
Amount: | $4 billion
|
Description: | Senior notes
|
Managers: | Credit Suisse Securities (USA) LLC, Goldman Sachs & Co. LLC, Mizuho Securities USA LLC, Morgan Stanley & Co. LLC, BNP Paribas Securities Corp. and NatWest Markets Securities Inc.
|
Trade date: | April 16
|
Settlement date: | April 23
|
Ratings: | Moody’s: Aa2
|
| S&P: AA
|
| Fitch: AA
|
Distribution: | SEC registered
|
|
Five-year notes
|
Amount: | $1.5 billion
|
Maturity: | July 8, 2024
|
Coupon: | 2.85%
|
Price: | 99.878
|
Yield: | 2.876%
|
Spread: | Treasuries plus 47 bps
|
Call: | Make-whole call at Treasuries plus 10 bps until June 8, 2024, then a par call
|
Price guidance: | Treasuries plus 50 bps area; initial talk at Treasuries plus low 60 bps area
|
|
Seven-year notes
|
Amount: | $1.25 billion
|
Maturity: | July 8, 2026
|
Coupon: | 3.05%
|
Price: | 99.868
|
Yield: | 3.071%
|
Spread: | Treasuries plus 57 bps
|
Call: | Make-whole call at Treasuries plus 10 bps until May 8, 2026, then a par call
|
Price guidance: | Treasuries plus 60 bps area; initial talk at Treasuries plus low 70 bps area
|
|
10-year notes
|
Amount: | $1.25 billion
|
Maturity: | July 8, 2029
|
Coupon: | 3.25%
|
Price: | 99.882
|
Yield: | 3.264%
|
Spread: | Treasuries plus 67 bps
|
Call: | Make-whole call at Treasuries plus 12.5 bps until April 8, 2029, then a par call
|
Price guidance: | Treasuries plus 70 bps area; initial talk at Treasuries plus low 80 bps area
|
© 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.