By Cristal Cody
Tupelo, Miss., July 11 – Nissan Motor Acceptance Corp. priced $1.75 billion of senior notes (A2/A) in four tranches on Monday, according to a market source.
Nissan Motor sold $350 million of three-year floating-rate notes at Libor plus 39 basis points.
The company brought $650 million of 2.15% three-year fixed-rate notes to market at a spread of Treasuries plus 60 bps.
The $300 million tranche of five-year floating-rate notes was sold at Libor plus 65 bps.
In the final tranche, Nissan Motor priced $450 million of 2.65% five-year fixed-rate notes at a spread of 72 bps over Treasuries.
Citigroup Global Markets Inc., Mizuho Securities USA Inc., Lloyds Securities Inc. and Wells Fargo Securities LLC were the bookrunners.
Nissan Motor Acceptance is an Irving, Texas-based financing and leasing arm of Nissan North America, Inc.
| Issuer: | Nissan Motor Acceptance Corp.
|
| Amount: | $1.75 billion
|
| Description: | Senior notes
|
| Bookrunners: | Citigroup Global Markets Inc., Mizuho Securities USA Inc., Lloyds Securities Inc. and Wells Fargo Securities LLC
|
| Trade date: | July 10
|
| Ratings: | Moody’s: A2
|
| S&P: A
|
|
|
| Three-year floaters
|
| Amount: | $350 million
|
| Maturity: | July 13, 2020
|
| Coupon: | Libor plus 39 bps
|
|
|
| Three-year notes
|
| Amount: | $650 million
|
| Maturity: | July 13, 2020
|
| Coupon: | 2.15%
|
| Spread: | Treasuries plus 60 bps
|
|
|
| Five-year floaters
|
| Amount: | $300 million
|
| Maturity: | July 13, 2022
|
| Coupon: | Libor plus 65 bps
|
|
|
| Five-year notes
|
| Amount: | $450 million
|
| Maturity: | July 13, 2022
|
| Coupon: | 2.65%
|
| Spread: | Treasuries plus 72 bps
|
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