New Issue: Paccar Financial prices $500 million senior notes due 2017 in fixed-, floating-rate tranches

By Aleesia Forni

Virginia Beach, June 3 - Paccar Financial Corp. sold $500 million of medium-term notes, series N, in three-year fixed- and floating-rate tranches, according to a FWP filed with the Securities and Exchange Commission on Tuesday.

The sale included $200 million of floating-rate notes due 2017 priced at par to yield Libor plus 19 basis points.

The company also sold $300 million of 1.1% three-year notes at 99.871 to yield 1.144%, or Treasuries plus 32 bps.

The bookrunners were BofA Merrill Lynch, RBC Capital Markets LLC, U.S. Bancorp Investments Inc., Wells Fargo Securities LLC, ANZ Securities Inc., Lloyds Securities Inc. and Williams Capital Group LP.

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

Issuer:	Paccar Financial Corp.
Issue:	Medium-term notes, series N
Amount:	$500 million
Joint bookrunners:	BofA Merrill Lynch, RBC Capital Markets LLC, U.S. Bancorp Investments Inc., Wells Fargo Securities LLC, ANZ Securities Inc., Lloyds Securities Inc., The Williams Capital Group LP
Trade date:	June 3
Settlement date:	June 6
Distribution:	SEC-registered
Three-year floaters
Amount:	$200 million
Maturity:	June 6, 2017
Coupon:	Libor plus 19 bps
Price:	Par
Yield:	Libor plus 19 bps
Three-year notes
Amount:	$300 million
Maturity:	June 6, 2017
Coupon:	1.1%
Price:	99.871
Yield:	1.144%
Spread:	Treasuries plus 32 bps

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