By Andrea Heisinger
New York, Dec. 2 - Caterpillar Inc. priced an upsized $1.5 billion of notes in three tranches Tuesday, market sources said.
The issue was originally announced in two tranches. Full terms were not available from the bookrunners at press time.
The $350 million of five-year notes priced with a yield equivalent to Treasuries plus 535 basis points.
The $900 million of 10-year notes priced to yield Treasuries plus 525 bps.
The $250 million of 30-year notes priced to yield Treasuries plus 510 bps.
Bookrunners were Banc of America Securities LLC and J.P. Morgan Securities Inc.
Proceeds will be used for general corporate purposes, including acquisitions, the repurchase of stock, additions to working capital, capital expenditures and funding liquidity for subsidiaries.
The manufacturer of construction and mining equipment is based in Peoria, Ill.
| Issuer: | Caterpillar Inc.
|
| Issue: | Notes
|
| Total amount: | $1.5 billion
|
| Bookrunners: | Banc of America Securities LLC, J.P. Morgan Securities Inc.
|
| Trade date: | Dec. 2
|
|
|
| Five-year notes
|
| Amount: | $350 million
|
| Maturity: | 2013
|
| Spread: | Treasuries plus 535 bps
|
|
|
| 10-year notes
|
| Amount: | $900 million
|
| Maturity: | 2018
|
| Spread: | Treasuries plus 525 bps
|
|
|
| 30-year notes
|
| Amount: | $250 million
|
| Maturity: | 2038
|
| Spread: | Treasuries plus 510 bps
|
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