By Cristal Cody
Chicago, Nov. 29 – Alcon Finance Corp. priced $1.3 billion of notes in a two-part transaction on Tuesday, according to a press release and a market source.
Fixed-income investor calls were held on Monday for the Rule 144A and Regulation S transaction.
The deal broke into a $700 million 10-year tranche with a 5.375% coupon that priced at 170 basis points over Treasuries. Talk was higher, in the 200 bps area.
The second part priced as $600 million of 30-year notes with a 5.75% coupon. Pricing at 195 bps to Treasuries, the notes came lower than talk in the 230 bps area.
J.P. Morgan Securities LLC, BofA Securities, Inc., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Mizuho Securities USA Inc. and UBS Securities LLC were the bookrunners.
Proceeds will be used for general corporate purposes, including the repayment of all outstanding debt under the bridge facility entered into in connection with its acquisition of Aerie Pharmaceuticals, Inc., and to repay all or part of the outstanding debt under the term loan facility.
Alcon Finance is a Fort Worth, Tex.-based financing arm of eye care company Alcon Inc. The parent will guarantee the notes.
| Issuer: | Alcon Finance Corp.
|
| Guarantor: | Alcon Inc.
|
| Amount: | $1.3 billion
|
| Issue: | Senior notes
|
| Bookrunners: | J.P. Morgan Securities LLC, BofA Securities, Inc., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Mizuho Securities USA Inc. and UBS Securities LLC
|
| Trade date: | Nov. 29
|
| Settlement date: | Dec. 6
|
| Distribution: | Rule 144A and Regulation S
|
| Marketing: | Investor call
|
|
|
| 10-year notes
|
| Amount: | $700 million
|
| Maturity: | Dec. 6, 2032
|
| Coupon: | 5.375%
|
| Spread: | Treasuries plus 170 bps
|
| Price talk: | Treasuries plus 200 bps area
|
|
|
| 30-year notes
|
| Amount: | $600 million
|
| Maturity: | Dec. 6, 2052
|
| Coupon: | 5.75%
|
| Spread: | Treasuries plus 195 bps
|
| Price talk: | Treasuries plus 230 bps area
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
