New Issue: Autodesk prints $500 million 3.5% 10-year notes to yield 140 bps over Treasuries

By Cristal Cody

Tupelo, Miss., June 5 – Autodesk, Inc. priced a $500 million offering of 3.5% 10-year senior notes on Monday at a spread of Treasuries plus 140 basis points, on the tight side of talk in the Treasuries plus 145 bps area, plus or minus 5 bps, according to a market source and an FWP filing with the Securities and Exchange Commission.

The notes (Baa2/BBB) priced at 99.372 to yield 3.575%.

The bookrunners were Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, U.S. Bancorp Investments, Inc., J.P. Morgan Securities LLC, BofA Merrill Lynch and Wells Fargo Securities, LLC.

Proceeds will be used for general corporate purposes, which includes repaying $400 million of 1.95% notes due Dec. 15, 2017.

Autodesk is a design software and services company based in San Rafael, Calif.

Issuer:	Autodesk, Inc.
Amount:	$500 million
Description:	Senior notes
Maturity:	June 15, 2027
Bookrunners:	Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, U.S. Bancorp Investments, Inc., J.P. Morgan Securities LLC, BofA Merrill Lynch and Wells Fargo Securities, LLC
Coupon:	3.5%
Price:	99.372
Yield:	3.575%
Spread:	Treasuries plus 140 bps
Call features:	Make-whole call before March 15, 2027 at Treasuries plus 20 bps; thereafter at par
Trade date:	June 5
Settlement date:	June 8
Ratings:	Moody’s: Baa2
	S&P: BBB
Distribution:	SEC registered
Price guidance:	Treasuries plus 145 bps area, plus or minus 5 bps

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