By William Gullotti
Buffalo, N.Y., Jan. 12 – American Honda Finance Corp. (A3/A-) priced $775 million of floating-rate notes due Feb. 12, 2025 at par on Friday, according to an FWP filing with the Securities and Exchange Commission.
The medium-term notes will bear interest at compounded SOFR determined on Feb. 8, but accruing interest starting Jan. 17, plus a spread of 55 basis points. The interest rate is subject to a floor of 0% and resets on every quarterly payment date.
Mizuho Securities USA LLC is the agent for the offering.
American Honda Finance is a Torrance, Calif.-based financing arm of American Honda Motor Co.
| Issuer: | American Honda Finance Corp.
|
| Amount: | $775 million
|
| Issue: | Floating-rate medium-term notes, series A
|
| Maturity: | Feb. 12, 2025
|
| Agent: | Mizuho Securities USA LLC
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| Coupon: | SOFR plus 55 bps, subject to floor of 0%, resets on each interest payment date
|
| Price: | Par
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| Yield: | SOFR plus 55 bps
|
| Trade date: | Jan. 12
|
| Settlement date: | Jan. 17
|
| Issuer ratings: | Moody’s: A3
|
| S&P: A-
|
| Distribution: | SEC registered
|
| Cusip: | 02665WFA4
|
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