By Andrea Heisinger
New York, Sept. 20 - Anglo American Capital plc sold $1.25 billion of senior unsecured notes (Baa1/BBB/BBB+) in two tranches on Monday, said a source who worked on the trade.
The $750 million of 2.15% three-year notes priced at 99.916 to yield 2.179% with a spread of 145 basis points over Treasuries. They were talked in the 150 bps area in the morning with a margin of plus or minus 5 bps, and priced at the tight end of that.
The tranche has a make-whole redemption at Treasuries plus 25 bps.
The second tranche was $500 million of 4.45% 10-year notes that sold at 99.976 to yield 4.453% with a spread of Treasuries plus 175 bps. That was at the tight end of guidance in the 180 bps area, with a margin of plus or minus 5 bps.
They are callable at a make-whole of Treasuries plus 30 bps.
The deal was priced under Rule 144A.
Bank of America Merrill Lynch and Barclays Capital Inc. were active bookrunners. Passives were Citigroup Global Markets and Mizuho Securities.
Proceeds are being used for general corporate purposes.
The global mining company is based in London.
| Issuer: | Anglo American Capital plc
|
| Issue: | Senior unsecured notes
|
| Amount: | $1.25 billion
|
| Bookrunners: | Bank of America Merrill Lynch, Barclays Capital Inc. (active), Citigroup Global Markets, Mizuho Securities
|
| Distribution: | Rule 144A
|
| Trade date: | Sept. 20
|
| Settlement date: | Sept. 27
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB
|
| Fitch: BBB+
|
|
|
| Three-year notes
|
| Amount: | $750 million
|
| Maturity: | Sept. 27, 2013
|
| Coupon: | 2.15%
|
| Price: | 99.916
|
| Yield: | 2.179%
|
| Spread: | Treasuries plus 145 bps
|
| Call: | Make-whole at Treasuries plus 25 bps
|
| Price talk: | 150 bps area, plus or minus 5 bps
|
|
|
| Ten-year notes
|
| Amount: | $500 million
|
| Maturity: | Sept. 27, 2020
|
| Coupon: | 4.45%
|
| Price: | 99.976
|
| Yield: | 4.453%
|
| Spread: | Treasuries plus 175 bps
|
| Call: | Make-whole at Treasuries plus 30 bps
|
| Price talk: | 180 bps area, plus or minus 5 bps
|
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