By Andrea Heisinger
New York, Oct. 28 - United Business Media Ltd. priced a downsized $350 million of 5.75% 10-year notes late on Wednesday at 325 basis points over Treasuries, according to a press release and a market source.
The offering had been announced Monday at a size of $500 million.
The Rule 144A notes (Baa3/BBB-/) priced at 98.295 to yield 5.979%. They have a make-whole call at 50 bps over Treasuries.
Barclays Capital Inc., Credit Suisse Securities (USA) Inc., HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC were the bookrunners.
The business information services company is based in London and Dublin.
| Issuer: | United Business Media Ltd.
|
| Issue: | Notes
|
| Amount: | $350 million, downsized from $500 million
|
| Maturity: | Nov. 3, 2020
|
| Bookrunners: | Barclays Capital Inc., Credit Suisse Securities (USA) Inc., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC
|
| Coupon: | 5.75%
|
| Price: | 98.295
|
| Yield: | 5.979%
|
| Spread: | Treasuries plus 325 bps
|
| Call: | Make-whole at Treasuries plus 50 bps
|
| Distribution: | Rule 144A
|
| Trade date: | Oct. 27
|
| Settlement date: | Nov. 3
|
| Ratings: | Moody's: Baa3
|
| Standard & Poor's: BBB-
|
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