By Andrea Heisinger
New York, Sept. 4 - American Honda Finance Corp. sold $1.5 billion of notes (A1/A+/) in two parts on Tuesday, a syndicate source said.
A $1 billion tranche of 1% three-year notes priced at 99.791 to yield 1.073% with a spread of Treasuries plus 77 basis points. The notes sold at the tight end of talk in the 80 bps area.
The second part was $500 million of 1.5% five-year notes sold at 99.693 to yield 1.564% with a spread of 95 bps over Treasuries. The tranche also priced at the low end of talk in the 100 bps area.
Bookrunners were Bank of America Merrill Lynch, BNP Paribas Securities Corp. and Deutsche Bank Securities Inc.
The U.S. arm of Honda Financial Services is based in Torrance, Calif.
| Issuer: | American Honda Finance Corp.
|
| Issue: | Notes
|
| Amount: | $1.5 billion
|
| Bookrunners: | Bank of America Merrill Lynch, BNP Paribas Securities Corp., Deutsche Bank Securities Inc.
|
| Trade date: | Sept. 4
|
| Settlement date: | Sept. 11
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A+
|
|
|
| Three-year notes
|
| Amount: | $1 billion
|
| Maturity: | Aug. 11, 2015
|
| Coupon: | 1%
|
| Price: | 99.791
|
| Yield: | 1.073%
|
| Spread: | Treasuries plus 77 bps
|
| Call: | Non-callable
|
| Price talk: | 80 bps area
|
|
|
| Five-year notes
|
| Amount: | $500 million
|
| Maturity: | Sept. 11, 2017
|
| Coupon: | 1.5%
|
| Price: | 99.693
|
| Yield: | 1.564%
|
| Spread: | Treasuries plus 95 bps
|
| Call: | Non-callable
|
| Price talk: | 100 bps area
|
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