By Andrea Heisinger
New York, Aug. 23 - John Deere Capital Corp. priced $500 million of 1.85% five-year notes on Tuesday at a spread of Treasuries plus 95 basis points, a source close to the trade said.
The notes were priced in line with guidance in the 95 bps area.
The notes (A2/A/) were sold at 99.947 to yield 1.861%. They are non-callable.
Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC ran the books.
Proceeds are being used for general corporate purposes.
The financing arm of heavy equipment maker Deere & Co. is based in Reno, Nev.
| Issuer: | John Deere Capital Corp.
|
| Issue: | Notes
|
| Amount: | $500 million
|
| Maturity: | 2016
|
| Bookrunners: | Deutsche Bank Securities Inc., J.P. Morgan Securities LLC
|
| Coupon: | 1.85%
|
| Price: | 99.947
|
| Yield: | 1.861%
|
| Spread: | Treasuries plus 95 bps
|
| Call: | Non-callable
|
| Trade date: | Aug. 23
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
| Price talk: | 95 bps area
|
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