Brown-Forman sets talk, plans to price $750 million five-, 10-, 30-year notes Monday

By Andrea Heisinger

New York, Dec. 10 - Brown-Forman Corp. is pricing $750 million of notes (A1/A-/) in three parts on Monday, according to a market source and a filing with the Securities and Exchange Commission.

The offering includes a tranche due 2018 being talked in the 65 basis points over Treasuries area, notes due 2023 with guidance in the Treasuries plus 92.5 bps area, plus or minus 2.5 bps, and a bond due 2043 with talk in the 112.5 bps over Treasuries area, plus or minus 2.5 bps.

Active bookrunners are Bank of America Merrill Lynch, Barclays and Citigroup Global Markets Inc.

Passive bookrunners are U.S. Bancorp Investments Inc., Deutsche Bank Securities Inc. and Wells Fargo Securities LLC.

Proceeds will be used to fund a previously announced special dividend of $4.00 per share on class A and class B common stock and for general corporate purposes.

Brown-Forman last tapped the market with a $250 million sale of 2.5% five-year notes sold at 75 bps over Treasuries on Dec. 13, 2010.

The global spirits maker is based in Louisville, Ky.

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