By Cristal Cody
Tupelo, Miss., March 26 – The Walt Disney Co. sold C$1.3 billion of 3.057% senior notes due 2027 (A2/A/A) on Thursday at par to yield a spread of 230.5 basis points over the Government of Canada benchmark, or 230 bps versus the curve, according to an FWP filing with the Securities and Exchange Commission.
Merrill Lynch Canada Inc., HSBC Securities (Canada) Inc. and RBC Dominion Securities Inc. were the bookrunners.
The notes will be guaranteed by TWDC Enterprises 18 Corp.
Proceeds will be used for general corporate purposes, including debt repayment.
Walt Disney is a Burbank, Calif.-based entertainment and media company.
| Issuer: | Walt Disney Co.
|
| Guarantor: | TWDC Enterprises 18 Corp.
|
| Amount: | C$1.3 billion
|
| Description: | Senior notes
|
| Maturity: | March 30, 2027
|
| Bookrunners: | Merrill Lynch Canada Inc., HSBC Securities (Canada) Inc. and RBC Dominion Securities Inc.
|
| Coupon: | 3.057%
|
| Price: | Par
|
| Yield: | 3.057%
|
| Spread: | Government of Canada benchmark plus 230.5 bps, or 230 bps over interpolated Government of Canada curve
|
| Call feature: | Make-whole-call at price equal to greater of par or Government of Canada yield plus 57.5 bps
|
| Trade date: | March 26
|
| Settlement date: | March 30
|
| Ratings: | Moody’s: A2
|
| S&P: A
|
| Fitch: A
|
| Distribution: | SEC registered, Canada private placement
|
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