Published on 4/21/2010 in the Prospect News Investment Grade Daily.
New Issue: Orix sells $750 million 4.71% five-year notes to yield Treasuries plus 220 bps
By Andrea Heisinger
New York, April 21 - Orix Corp. priced $750 million of 4.71% five-year senior unsecured notes on Wednesday to yield 220 basis points over Treasuries, according to an FWP filing with the Securities and Exchange Commission.
The deal was announced early Tuesday and went overnight.
The notes (A3/A-/) priced at 99.991 and are non-callable.
Bank of America Merrill Lynch, Morgan Stanley & Co. and UBS Investment Bank ran the books.
Co-lead managers were BNP Paribas Securities, Daiwa Capital Markets America and Nomura Securities International.
Co-managers were ANZ Securities, Barclays Capital, China International Capital, Citigroup Global Markets, Credit Agricole Corporate and Investment Bank, Goldman Sachs & Co., Houlihan Lokey Howard & Zukin Capital, ING Bank NV London, Mitsubishi UFJ Securities USA, Mizuho Securities, Nikko Bank, Scotia Capital and Standard Chartered Bank.
Proceeds are being used for general corporate purposes.
The financial services and joint stock company is based in Tokyo.
| Issuer: | Orix Corp.
|
| Issue: | Senior unsecured notes
|
| Amount: | $750 million
|
| Maturity: | April 27, 2015
|
| Bookrunners: | Bank of America Merrill Lynch, Morgan Stanley & Co., UBS Investment Bank
|
| Co-lead managers: | BNP Paribas Securities, Daiwa Capital Markets America, Nomura Securities International
|
| Co-managers: | ANZ Securities, Barclays Capital, China International Capital, Citigroup Global Markets, Credit Agricole Corporate and Investment Bank, Goldman Sachs & Co., Houlihan Lokey Howard & Zukin Capital, ING Bank NV London, Mitsubishi UFJ Securities USA, Mizuho Securities, Nikko Bank, Scotia Capital, Standard Chartered Bank
|
| Coupon: | 4.71%
|
| Price: | 99.991
|
| Spread: | Treasuries plus 220 bps
|
| Call: | Non-callable
|
| Trade date: | April 21
|
| Settlement date: | April 27
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A-
|
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