By Andrea Heisinger
New York, March 13 - Vodafone Group plc sold $1 billion of 1.625% five-year notes on Tuesday to yield Treasuries plus 80 basis points, a source close to the trade said.
The paper sold at the tight end of guidance in the 80 bps to 85 bps range, they added.
The notes (A3/A-/) were priced at 99.447 to yield 1.741%. There is a make-whole call at 15 bps over Treasuries.
Barclays Capital Inc., HSBC Securities (USA) Inc., Morgan Stanley & Co. LLC and RBS Securities Inc. were the bookrunners.
Vodafone was last in the market with a $1.1 billion deal in two tranches on March 9, 2011.
The telecommunications company is based in London.
| Issuer: | Vodafone Group plc
|
| Issue: | Notes
|
| Amount: | $1 billion
|
| Maturity: | March 20, 2017
|
| Bookrunners: | Barclays Capital Inc., HSBC Securities (USA) Inc., Morgan Stanley & Co. LLC, RBS Securities Inc.
|
| Coupon: | 1.625%
|
| Price: | 99.447
|
| Yield: | 1.741%
|
| Spread: | Treasuries plus 80 bps
|
| Call: | Make-whole at Treasuries plus 15 bps
|
| Trade date: | March 13
|
| Settlement date: | March 20
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A-
|
| Price talk: | 80 to 85 bps
|
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