By Andrea Heisinger
New York, Jan. 5 - Japan's Orix Corp. priced $400 million of 5% five-year senior notes on Wednesday to yield Treasuries plus 290 basis points, according to an FWP filing with the Securities and Exchange Commission.
The notes were priced in line with whispered guidance in the high 200 bps and revised talk in the 290 bps area, a source said.
The notes (A3/A-/) sold at 99.816 and are non-callable.
UBS Securities LLC, Morgan Stanley & Co. Inc., Nomura Securities International Inc. and Citigroup Global Markets Inc. were the active bookrunners. Bank of America Merrill Lynch was a passive bookrunner.
Co-lead managers were BNP Paribas Securities Corp., Daiwa Capital Markets America Inc. and Mizuho Securities USA Inc.
Co-managers were ANZ Securities Inc., Credit Agricole Securities (USA) Inc., Scotia Capital (USA) Inc., Standard Chartered Bank, China International Capital Corp. Hong Kong Securities Ltd., Deutsche Bank Securities Inc., Goldman Sachs & Co., Houlihan Lokey Capital Inc., ING Bank NV London branch, Mitsubishi UFJ Securities (USA) Inc. and SMBC Nikko Capital Markets Ltd.
Proceeds are being used for general corporate purposes.
The joint stock and financial services company is based in Tokyo.
| Issuer: | Orix Corp.
|
| Issue: | Senior notes
|
| Amount: | $400 million
|
| Maturity: | Jan. 12, 2016
|
| Bookrunners: | UBS Securities LLC, Morgan Stanley & Co. Inc., Nomura Securities International Inc., Citigroup Global Markets Inc. (active), Bank of America Merrill Lynch (passive)
|
| Co-lead managers: | BNP Paribas Securities Corp., Daiwa Capital Markets America Inc., Mizuho Securities USA Inc.
|
| Co-managers: | ANZ Securities Inc., Credit Agricole Securities (USA) Inc., Scotia Capital (USA) Inc., Standard Chartered Bank, China International Capital Corp. Hong Kong Securities Ltd., Deutsche Bank Securities Inc., Goldman Sachs & Co., Houlihan Lokey Capital Inc., ING Bank NV London branch, Mitsubishi UFJ Securities (USA) Inc., SMBC Nikko Capital Markets Ltd.
|
| Coupon: | 5%
|
| Price: | 99.816
|
| Spread: | Treasuries plus 290 bps
|
| Call: | Non-callable
|
| Trade date: | Jan. 5
|
| Settlement date: | Jan. 12
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A-
|
| Price talk: | High 200 bps (whispered), 290 bps area (revised)
|
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