New Issue: Paccar prices $300 million 2.2% five-year notes at 50 bps spread

By Aleesia Forni

Virginia Beach, Sept. 8 – Paccar Financial Corp. priced $300 million of 2.2% notes (A1/A+/) due 2019 at Treasuries plus 50 basis points, according to a market source and a FWP filed with the Securities and Exchange Commission.

The notes sold at the tight end of talk.

Pricing was at 99.943 to yield 2.212%.

The bookrunners were Mitsubishi UFJ Securities (USA), Inc., Barclays, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC.

The provider of retail and commercial truck financing for Paccar Inc. is based in Bellevue, Wash.

Issuer:	Paccar Financial Corp.
Amount:	$300 million
Description:	Notes
Maturity:	Sept. 15, 2019
Bookrunners:	Mitsubishi UFJ Securities (USA), Inc., Barclays, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC
Co-managers:	Mizuho Securities USA Inc., TD Securities (USA) LLC, Williams Capital Group LP
Coupon:	2.2%
Price:	99.943
Yield:	2.212%
Trade date:	Treasuries plus 50 bps
Settlement date:	Sept. 15
Ratings:	Moody’s: A1
	Standard & Poor's: A+
Price talk:	Treasuries plus 50 bps to 55 bps, tightened from Treasuries plus 65 bps area

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