By Cristal Cody
Tupelo, Miss., June 17 – Amdocs Ltd. priced $650 million of 2.538% 10-year senior notes (Baa2/BBB) on Wednesday at par to yield a spread of Treasuries plus 180 basis points, according to a market source and an FWP filing with the Securities and Exchange Commission.
Initial price talk was in the Treasuries plus 180 bps area.
J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, RBC Capital Markets, LLC were the lead bookrunners. Citigroup Global Markets Inc., HSBC Securities (USA) Inc. and MUFG also were bookrunners.
The proceeds will be used for general corporate purposes, including debt repayment.
Amdocs is a St. Louis-based provider of customer software for communications, entertainment and media service providers.
| Issuer: | Amdocs Ltd.
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| Amount: | $650 million
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| Description: | Senior notes
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| Maturity: | June 24, 2030
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| Bookrunners: | J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, RBC Capital Markets, LLC (lead); Citigroup Global Markets Inc., HSBC Securities (USA) Inc. and MUFG
|
| Coupon: | 2.538%
|
| Price: | Par
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| Yield: | 2.538%
|
| Spread: | Treasuries plus 180 bps
|
| Call features: | Make-whole call before March 15, 2030 at Treasuries plus 30 bps; thereafter at par
|
| Trade date: | June 17
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| Settlement date: | June 24
|
| Ratings: | Moody’s: Baa2
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| S&P: BBB
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| Distribution: | SEC registered
|
| Price guidance: | Treasuries plus 180 bps area
|
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