By Cristal Cody
Chicago, June 7 – Bacardi Ltd. and Bacardi Martini BV priced a $1.5 billion three-part offering of notes on Tuesday, a market source reported.
The deal included one green tranche, $400 million of 5.25% notes due Jan. 15, 2029. The notes priced at a 140 basis points spread to Treasuries, 30 bps lower than talk in the 170 bps area.
The second tranche was a conventional $700 million 5.4% note with a 10-year tenor. Pricing came at Treasuries plus 175 bps, a quarter turn lower than talk in the 200 bps area.
The transaction also included $400 million of 5.9% 20-year notes. The notes priced at Treasuries plus 190 bps against talk in the 225 bps area.
BofA Securities, BNP Paribas, Barclays and Citigroup are listed as bookrunners for the Rule 144A and Regulation S deal.
Bacardi, based in Hamilton, Bermuda, is a privately held spirits company.
| Issuers: | Bacardi Ltd. and Bacardi Martini BV
|
| Amount: | $1.5 billion
|
| Issue: | Notes
|
| Bookrunners: | BofA Securities, BNP Paribas, Barclays and Citigroup
|
| Trade date: | June 6
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| Green notes
|
| Amount: | $400 million
|
| Issue: | Green notes
|
| Maturity: | Jan. 15, 2029
|
| Coupon: | 5.25%
|
| Spread: | Treasuries plus 140 bps
|
| Price talk: | Treasuries plus 170 bps area
|
|
|
| 2033 notes
|
| Amount: | $700 million
|
| Issue: | Notes
|
| Maturity: | June 15, 2033
|
| Coupon: | 5.4%
|
| Spread: | Treasuries plus 175 bps
|
| Price talk: | Treasuries plus 200 bps area
|
|
|
| 2043 notes
|
| Amount: | $400 million
|
| Issue: | Notes
|
| Maturity: | June 15, 2043
|
| Coupon: | 5.9%
|
| Spread: | Treasuries plus 190 bps
|
| Price talk: | Treasuries plus 225 bps area
|
|
|
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