By Paul A. Harris
Portland, Ore., March 5 - Germany's ThyssenKrupp AG priced an upsized €350 million add-on to its 4% notes due Aug. 27, 2018 (Ba1/BB/BBB-) at 100.625 to yield 3.874% on Tuesday, according to market sources.
The deal was upsized from €250 million.
The reoffer price came in line with the 100.375 to 100.75 price talk.
Citigroup and UniCredit were the joint bookrunners.
The German steelmaker plans to use the proceeds for general corporate purposes.
| Issuer: | ThyssenKrupp AG
|
| Amount: | €350 million, increased from €250 million
|
| Maturity: | Aug. 27, 2018
|
| Bookrunners: | Citigroup, UniCredit
|
| Coupon: | 4%
|
| Price: | 100.625
|
| Yield: | 3.874%
|
| Spread: | 287 bps
|
| Trade date: | March 5
|
| Settlement date: | March 12
|
| Ratings: | Moody's: Ba1
|
| Standard & Poor's: BB
|
| Fitch: BBB-
|
| Price talk: | 100.375 to 100.75
|
| Marketing: | Quick to market
|
| Original issue size: | €1.25 billion
|
| Total issue size: | €1.6 billion
|
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