By Cristal Cody
Eureka Springs, Ark., July 5 – Daimler Canada Finance Inc. priced C$750 million of senior notes (A3/A-/DBRS: A) in two tranches on Tuesday, according to a market source.
The company sold C$250 million of three-year floating-rate notes at par to yield CDOR plus 83 basis points.
Daimler Canada Finance priced C$500 million of 1.91% five-year fixed-rate notes at 99.972 to yield 1.916%, or 135 bps over the interpolated Government of Canada bond curve.
TD Securities Inc., CIBC World Markets Inc. and RBC Dominion Securities Inc. managed the transaction.
Daimler Finance Canada is a Montreal-based financing arm and affiliate of Daimler AG.
| Issuer: | Daimler Canada Finance Inc.
|
| Amount: | C$750 million
|
| Securities: | Senior notes
|
| Bookrunners: | TD Securities Inc., CIBC World Markets Inc., RBC Dominion Securities Inc.
|
| Pricing date: | July 5
|
| Settlement date: | July 8
|
| Ratings: | Moody’s: A3
|
| S&P: A-
|
| DBRS: A
|
| Distribution: | Canada
|
|
|
| Three-year floaters
|
| Amount: | C$250 million
|
| Maturity: | July 8, 2019
|
| Coupon: | CDOR plus 83 bps
|
| Price: | Par
|
| Yield: | CDOR plus 83 bps
|
|
|
| Five-year fixed-rate notes
|
| Amount: | C$500 million
|
| Maturity: | July 8, 2021
|
| Coupon: | 1.91%
|
| Price: | 99.972
|
| Yield: | 1.916%
|
| Spread: | 135 bps over interpolated Government of Canada bond curve
|
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