By Andrea Heisinger
New York, Feb. 3 - Altria Group Inc. priced $4.225 billion of notes (Baa1/BBB/BBB+) in three tranches Tuesday, an informed source said.
The size was increased from a planned two tranches. Full terms were unavailable at press time Tuesday.
The $525 million of 7.75% five-year notes priced to yield Treasuries plus 587.5 basis points.
The $2.2 billion of 9.25% 10-year notes priced to yield Treasuries plus 637.5 bps.
The $1.5 billion of 10.2% 30-year notes priced to yield Treasuries plus 550 bps.
Bookrunners were Deutsche Bank Securities Inc., Goldman Sachs & Co. and J.P. Morgan Securities Inc.
The cigarette and tobacco products company is based in Richmond, Va.
| Issuer: | Altria Group Inc.
|
| Issue: | Notes
|
| Total amount: | $4.225 billion
|
| Bookrunners: | Deutsche Bank Securities Inc., Goldman Sachs & Co., J.P. Morgan Securities Inc.
|
| Trade date: | Feb. 3
|
| Settlement date: | Feb. 6
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB
|
| Fitch: BBB+
|
|
|
| Five-year notes
|
| Amount: | $525 million
|
| Maturity: | Feb. 6, 2014
|
| Coupon: | 7.75%
|
| Spread: | Treasuries plus 587.5 bps
|
|
|
| 10-year notes
|
| Amount: | $2.2 billion
|
| Maturity: | Aug. 6, 2019
|
| Coupon: | 9.25%
|
| Spread: | Treasuries plus 637.5 bps
|
|
|
| 30-year notes
|
| Amount: | $1.5 billion
|
| Maturity: | Feb. 6, 2039
|
| Coupon: | 10.2%
|
| Spread: | Treasuries plus 550 bps
|
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