Paccar Financial talks $450 million sale of notes in two-, three-year maturities for Thursday

By Andrea Heisinger

New York, May 9 - Paccar Financial Corp. will price $450 million of notes (A1/A+/) in two maturities on Thursday, an informed source said.

The offering will include $200 million of two-year floating-rate notes with guidance in the one-month Libor plus high 20 basis points area and $250 million of three-year notes talked in the Treasuries plus 50 bps area.

There is a do-not-grow provision on the offering, the source said.

Bookrunners are Citigroup Global Markets Inc., Mitsubishi UFJ Securities (USA) Inc. and RBC Capital Markets LLC.

Paccar Financial last tapped the U.S. bond market with a $500 million offering of three-year notes in two tranches on Feb. 5.

The provider of retail and commercial truck financing for Paccar Inc. is based in Bellevue, Wash.

© 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.