By Andrea Heisinger
New York, Jan. 6 - Brown-Forman Corp. priced $250 million of 5% five-year senior unsecured notes Tuesday to yield Treasuries plus 337.5 basis points, according to a market source and an FWP filing with the Securities and Exchange Commission.
The notes (A2/A/) priced at 99.634 to yield 5.082%. They have a make-whole call of Treasuries plus 50 bps.
Bookrunners were Banc of America Securities LLC, Barclays Capital Inc., Citigroup Global Markets Inc., Wachovia Capital Markets and J.P. Morgan Securities Inc.
Proceeds will be used for general corporate purposes.
The global spirits company is based in Louisville, Ky.
| Issuer: | Brown-Forman Corp.
|
| Issue: | Senior unsecured notes
|
| Amount: | $250 million
|
| Maturity: | Feb. 1, 2014
|
| Bookrunners: | Banc of America Securities LLC, Barclays Capital Inc., Citigroup Global Markets Inc., Wachovia Capital Markets, J.P. Morgan Securities Inc.
|
| Coupon: | 5%
|
| Price: | 99.634
|
| Yield: | 5.082%
|
| Spread: | Treasuries plus 337.5 bps
|
| Call: | Make-whole at Treasuries plus 50 bps
|
| Trade date: | Jan. 6
|
| Settlement date: | Jan. 9
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
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