By Cristal Cody
Chicago, Dec. 2 – Olympus Corp. sold $500 million of 2.143% five-year notes (Baa2/BBB+) on Thursday, according to a market source.
The notes priced with a 93 basis points spread over a related benchmark Treasury, 17 bps lower than talk in the 110 bps area.
BofA Securities, Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are listed as bookrunners.
Global fixed-income investor calls were held on Monday for the Rule 144A and Regulation S issue.
The proceeds are expected to be used to refinance debt and for growth investments, according to S&P Global Ratings.
Olympus is a Tokyo-based digital camera company that also makes endoscopes, microscopes and other medical equipment developed under the concept of opto-digital technology.
| Issuer: | Olympus Corp.
|
| Amount: | $500 million
|
| Issue: | Notes
|
| Maturity: | Dec. 8, 2026
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| Bookrunners: | BofA Securities, Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC
|
| Coupon: | 2.143%
|
| Spread: | Treasuries plus 93 bps
|
| Trade date: | Dec. 2
|
| Ratings: | Moody’s: Baa2
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| S&P: BBB+
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Treasuries plus 110 bps area
|
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