By Aleesia Forni
Virginia Beach, Oct. 19 – Brambles USA Inc. priced $500 million of 4.125% 10-year senior notes (Baa1/BBB+) on Monday with a 212.5 basis points spread over Treasuries, an informed source said.
The notes sold at 99.757 to yield 4.155%.
Price guidance was set in the Treasuries plus 215 bps area following talk in the Treasuries plus 240 bps area.
Bookrunners were BofA Merrill Lynch, Barclays and J.P. Morgan Securities LLC.
Proceeds will be used to refinance debt and for general corporate purposes.
The deal was done via Rule 144A and Regulation S.
The pallet and container manufacturer is based in Norcross, Ga.
| Issuer: | Brambles USA Inc.
|
| Amount: | $500 million
|
| Description: | Senior notes
|
| Maturity: | Oct. 23, 2025
|
| Bookrunners: | BofA Merrill Lynch, Barclays, J.P. Morgan Securities LLC
|
| Coupon: | 4.125%
|
| Price: | 99.757
|
| Yield: | 4.155%
|
| Spread: | Treasuries plus 212.5 bps
|
| Trade date: | Oct. 19
|
| Settlement date: | Oct. 23
|
| Ratings: | Moody’s: Baa1
|
| Standard & Poor’s: BBB+
|
| Price guidance: | Treasuries plus 215 bps area (+/- 2.5 bps), tightened from Treasuries plus 240 bps area
|
| Distribution: | Rule 144A, Regulation S
|
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