New Issue: Ralph Lauren sells $300 million 2.125% five-year notes at Treasuries plus 68 bps

By Aleesia Forni

Virginia Beach, Va., Sept. 23 - Ralph Lauren Corp. sold $300 million of 2.125% five-year senior notes with a spread of Treasuries plus 68 basis points, according to a FWP filing with the Securities and Exchange Commission.

Pricing was at 99.896 to yield 2.147%.

Joint bookrunners were BofA Merrill Lynch and J.P. Morgan Securities LLC.

Ralph Lauren plans to use the proceeds for general corporate purposes, which may include the repayment of its €209.2 million 4.5% notes due Oct. 4, 2013.

Ralph Lauren is a New York-based company engaged in the design, marketing and distribution of lifestyle products.

Issuer:	Ralph Lauren Corp.
Amount:	$300 million
Description:	Senior unsecured notes
Maturity:	Sept. 26, 2018
Bookrunners:	J.P. Morgan Securities LLC, BofA Merrill Lynch
Co-managers:	Barclays, Deutsche Bank Securities Inc., Goldman Sachs & Co., HSBC Securities (USA) Inc., SMBC Nikko Securities America Inc., Wells Fargo LLC
Coupon:	2.125%
Price:	99.896
Yield:	2.147%
Spread:	Treasuries plus 68 bps
Trade date:	Sept. 23
Settlement date:	Sept. 26
Ratings:	Moody's: A3
	Standard & Poor's: A
Make-whole call:	Treasuries plus 10 bps, callable at par on or after Aug. 28, 2018
Distribution:	SEC registered

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