By Andrea Heisinger
Omaha, Sept. 24 - USG Corp. priced $500 million 7.75% senior notes due 2018 on Thursday to yield Treasuries plus 315 basis points, a market source said.
The notes (Baa3/BB+) priced at 99.752 to yield 7.788% and are non-callable.
Bookrunners were Banc of America Securities LLC and J.P. Morgan Securities Inc.
Proceeds will be used to add to the company's general fund and to repay a portion of notes outstanding under its term loan facility.
The building material manufacturing company is based in Chicago.
| Issuer: | USG Corp.
|
| Issue: | Senior notes
|
| Amount: | $500 million
|
| Maturity: | Jan. 15, 2018
|
| Bookrunners: | Banc of America Securities LLC, J.P. Morgan Securities Inc.
|
| Coupon: | 7.75%
|
| Price: | 99.752
|
| Yield: | 7.788%
|
| Spread: | Treasuries plus 315 bps
|
| Call: | Non-callable
|
| Trade date: | Sept. 24
|
| Ratings: | Moody's: Baa3
|
| Standard & Poor's: BB+
|
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