By Aleesia Forni
Virginia Beach, Va., Aug. 13 - Paccar Financial Corp. was in Tuesday's primary market selling $500 million 1.15% series N three-year notes (A1/A+/) with a spread of Treasuries plus 50 basis points, according to syndicate sources and a filing with the Securities and Exchange Commission.
The notes priced at the tight end of the Treasuries plus 55 bps area talk.
Paccar sold the notes at 99.903 to yield 1.183%.
Barclays, RBS Securities Inc., UBS Securities LLC and Wells Fargo Securities LLC were the joint bookrunners.
The provider of retail and commercial truck financing for Paccar Inc. is based in Bellevue, Wash.
| Issuer: | Paccar Financial Corp.
|
| Amount: | $500 million
|
| Description: | Notes, series N
|
| Maturity: | Aug. 16, 2016
|
| Joint bookrunners | : | Barclays, RBS Securities Inc., UBS Securities LLC, Wells Fargo Securities LLC
|
| Coupon: | 1.15%
|
| Price: | 99.903
|
| Yield: | 1.183%
|
| Spread: | Treasuries plus 50 bps
|
| Trade date: | Aug. 13
|
| Settlement date: | Aug. 16
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A+
|
| Price talk: | Treasuries plus 55 bps area
|
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