By Andrea Heisinger
New York, March 2 - Paccar Financial Corp. gave the terms of its $500 million sale of 1.6% five-year medium-term notes, which priced Thursday at a spread of Treasuries plus 70 basis points, according to an FWP filing with the Securities and Exchange Commission.
The notes (A1/A+/) were priced at 99.981 to yield 1.604%. There is no call option.
Bank of America Merrill Lynch, Barclays Capital Inc. and Goldman Sachs & Co. were the bookrunners.
Co-managers were Lloyds Securities Inc., TD Securities (USA) LLC and U.S. Bancorp Investments Inc.
Proceeds will be used for general corporate purposes.
Paccar last sold bonds in a $400 million deal of three-year notes on Sept. 26, 2011.
The provider of retail and commercial truck financing for Paccar Inc. is based in Bellevue, Wash.
| Issuer: | Paccar Financial Corp.
|
| Issue: | Medium-term notes
|
| Amount: | $500 million
|
| Maturity: | March 15, 2017
|
| Bookrunners: | Bank of America Merrill Lynch, Barclays Capital Inc., Goldman Sachs & Co.
|
| Co-managers: | Lloyds Securities Inc., TD Securities (USA) LLC, U.S. Bancorp Investments Inc.
|
| Coupon: | 1.6%
|
| Price: | 99.981
|
| Yield: | 1.604%
|
| Spread: | Treasuries plus 70 bps
|
| Call: | Non-callable
|
| Trade date: | March 1
|
| Settlement date: | March 6
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A+
|
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