By Cristal Cody
Eureka Springs, Ark., Oct. 26 – Daimler Finance North America LLC sold $2.5 billion of notes (A3/A-) in three parts on Wednesday, according to a market source.
The company priced $400 million of three-year floating-rate notes at Libor plus 62 basis points.
Daimler sold a $1.1 billion tranche of 1.75% three-year fixed-rate notes at a spread of 78 bps over Treasuries.
The company also sold $1 billion of 2.2% five-year notes at 90 bps over Treasuries.
BofA Merrill Lynch, BNP Paribas Securities Corp., Citigroup Global Markets Inc. and MUFG were the bookrunners.
Daimler Finance is a Wilmington, Del.-based financing arm of Daimler North America Corp.
| Issuer: | Daimler Finance North America LLC
|
| Amount: | $2.5 billion
|
| Description: | Notes
|
| Bookrunners: | BofA Merrill Lynch, BNP Paribas Securities Corp., Citigroup Global Markets Inc., MUFG
|
| Trade date: | Oct. 26
|
| Ratings: | Moody’s: A3
|
| S&P: A-
|
|
|
| Three-year floaters
|
| Amount: | $400 million
|
| Maturity: | Oct. 30, 2019
|
| Coupon: | Libor plus 62 bps
|
|
|
| Three-year notes
|
| Amount: | $1.1 billion
|
| Maturity: | Oct. 30, 2019
|
| Coupon: | 1.75%
|
| Spread: | Treasuries plus 78 bps
|
|
|
| Five-year notes
|
| Amount: | $1 billion
|
| Maturity: | Oct. 30, 2021
|
| Coupon: | 2.2%
|
| Spread: | Treasuries plus 90 bps
|
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