By Andrea Heisinger
New York, Feb. 9 - PepsiAmericas, Inc. priced $350 million of 4.375% five-year notes Monday to yield Treasuries plus 250 basis points, according to an FWP filing with the Securities and Exchange Commission.
The spread was in line with price talk of 250 bps, a market source said.
The notes (Baa1/A/A) priced at 99.369 to yield 4.517% with a make-whole call of Treasuries plus 40 bps.
The notes feature a change-of-control put of 101%.
Bookrunners were Banc of America Securities LLC and J.P. Morgan Securities Inc.
Co-managers were Wachovia Capital Markets, BNP Paribas Securities, Citigroup Global Markets Inc., Goldman Sachs & Co., Morgan Stanley & Co. Inc. and Loop Capital Markets LLC.
Proceeds will be used to repay commercial paper issued by the company and for general corporate purposes.
The world's second-largest bottler of Pepsi products is based in Minneapolis.
| Issuer: | PepsiAmericas, Inc.
|
| Issue: | Unsecured notes
|
| Amount: | $350 million
|
| Maturity: | Feb. 15, 2014
|
| Bookrunners: | Banc of America Securities LLC, J.P. Morgan Securities Inc.
|
| Co-managers: | Wachovia Capital Markets, BNP Paribas Securities, Citigroup Global Markets Inc., Goldman Sachs & Co., Morgan Stanley & Co. Inc., Loop Capital Markets LLC
|
| Coupon: | 4.375%
|
| Price: | 99.369
|
| Yield: | 4.517%
|
| Spread: | Treasuries plus 250 bps
|
| Call: | Make-whole at Treasuries plus 40 bps
|
| Change-of-control put: | 101%
|
| Trade date: | Feb. 9
|
| Settlement date: | Feb. 12
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: A
|
| Fitch: A
|
| Price talk: | 250 bps
|
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