By Andrea Heisinger
New York, Nov. 13 - BMC Software, Inc. priced $300 million of 4.5% 10-year senior notes (Baa2/BBB+/) on Tuesday with a spread of Treasuries plus 300 basis points, a market source close to the trade said.
The size of the offering was initially $400 million. Full terms were unavailable at press time.
The notes feature a change-of-control put at 101%.
Bookrunners were Bank of America Merrill Lynch, Barclays and J.P. Morgan Securities LLC.
Proceeds will be used for general corporate purposes.
BMC was last in the market with a $500 million offering of 10-year notes on Feb. 8, 2012.
The software company is based in Houston.
| Issuer: | BMC Software, Inc.
|
| Issue: | Senior notes
|
| Amount: | $300 million, downsized from $400 million
|
| Maturity: | 2022
|
| Bookrunners: | Bank of America Merrill Lynch, Barclays, J.P. Morgan Securities LLC
|
| Coupon: | 4.5%
|
| Spread: | Treasuries plus 300 bps
|
| Change-of-control put: | 101%
|
| Trade date: | Nov. 13
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB+
|
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