By Wendy Van Sickle
Columbus, Ohio, April 9 – American Honda Finance Corp. (A3/A-) upsized its floating-rate medium-term notes, series A, due Oct. 10, 2025 by $25 million to $375 million, according to an FWP filing with the Securities and Exchange Commission.
The company priced the notes at par on Monday, as previously reported. The initial interest rate will be based on compounded SOFR determined on May 10, but accruing interest starting Feb. 14, plus a spread of 50 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: | $375 million, upsized from $350 million
|
| Issue: | Floating-rate medium-term notes, series A
|
| Maturity: | Oct. 10, 2025
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| Agent: | Mizuho Securities USA LLC
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| Coupon: | SOFR plus 50 bps, subject to floor of 0%, resets on each interest payment date
|
| Price: | Par
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| Yield: | SOFR plus 50 bps
|
| Trade date: | April 8
|
| Settlement date: | April 10
|
| Issuer ratings: | Moody’s: A3
|
| S&P: A-
|
| Distribution: | SEC registered
|
| Cusip: | 02665WFF3
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