New Issue: ORIX sells $500 million 4% 10-year debt securities to yield 4.04%

By Cristal Cody

Chicago, April 7 – ORIX Corp. sold $500 million of 4% notes with a 10-year tenor at 99.674 for a yield of 4.04% (A3/A-/A-), according to a market source and detailed information in an FWP filing with the Securities and Exchange Commission.

Pricing on the spread was Treasuries plus 145 basis points versus initial price talk in the Treasuries plus 170 bps area.

J.P. Morgan Securities LLC, BofA Securities, Inc., Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, Daiwa Capital Markets America Inc. and Nomura Securities International, Inc. are the joint bookrunners.

Proceeds will be used for general corporate purposes.

ORIX is a financial services company based in Tokyo.

Issuer:	ORIX Corp.
Amount:	$500 million
Issue:	Senior debt securities
Maturity:	April 13, 2032
Bookrunners:	J.P. Morgan Securities LLC, BofA Securities, Inc., Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, Daiwa Capital Markets America Inc. and Nomura Securities International, Inc.
Co-managers:	Australia and New Zealand Banking Group Ltd., BNP Paribas, Citigroup Global Markets Inc., Credit Agricole CIB, Deutsche Bank Securities Inc. and Mizuho Securities USA LLC
Trustee:	Bank of New York Mellon
Counsel to issuer:	Davis Polk & Wardwell LLP and Mitsui Co.
Counsel to bookrunners:	Simpson Thacher & Bartlett LLP
Coupon:	4%
Price:	99.674
Yield:	4.04%
Spread:	Treasuries plus 145 bps
Trade date:	April 6
Settlement date:	April 13
Ratings:	Moody’s: A3
	S&P: A-
	Fitch: A-
Distribution:	SEC registered
Price talk:	Treasuries plus 170 bps area
Cusip:	686330AP6

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.