By Andrea Heisinger
New York, Aug. 5 - AGL Capital Corp. issued an upsized $300 million in 5.25% 10-year senior notes Wednesday to yield Treasuries plus 162.5 basis points, according to an FWP filing with the Securities and Exchange Commission.
The size was initially $250 million, a source said. The issue priced at the tight end of guidance, which was for a spread in the 175 bps area, an informed source said. The guidance had a margin of plus or minus 12.5 bps.
The notes (Baa1/BBB+/A-) priced at 99.783 to yield 5.278%. They have a make-whole call at Treasuries plus 25 bps.
Bookrunners were Goldman Sachs & Co., SunTrust Robinson Humphrey Inc. and Wells Fargo Securities. Co-managers were Mitsubishi UFJ Securities, Calyon Securities and RBS Securities Inc.
Proceeds will be used for general corporate purposes, including repaying a portion of short-term debt.
The subsidiary of natural gas company AGL Resources Inc. is based in Atlanta.
Issuer: | AGL Capital Corp.
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Issue: | Senior notes
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Amount: | $300 million, increased from $250 million
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Maturity: | Aug. 15, 2019
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Bookrunners: | Goldman Sachs & Co., SunTrust Robinson Humphrey Inc., Wells Fargo Securities
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Co-managers: | Mitsubishi UFJ Securities, Calyon Securities, RBS Securities Inc.
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Coupon: | 5.25%
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Price: | 99.783
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Yield: | 5.278%
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Spread: | Treasuries plus 162.5 bps
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Call: | Make-whole at Treasuries plus 25 bps
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Trade date: | Aug. 5
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Settlement date: | Aug. 10
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Ratings: | Moody's: Baa1
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| Standard & Poor's: BBB+
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| Fitch: A-
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Price talk: | 175 bps area, plus or minus 12.5 bps
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