By Andrea Heisinger
New York, Jan. 8 - Walgreen Co. priced $1 billion 5.25% 10-year senior unsecured notes Thursday to yield Treasuries plus 287.5 basis points, an informed source said.
The notes (A2/A+/) priced at 99.477 to yield 5.318%. They have a make-whole call of Treasuries plus 45 bps.
The notes feature a change-of-control put of 101%.
Bookrunners were Banc of America Securities LLC, Goldman Sachs & Co., J.P. Morgan Securities Inc. and Morgan Stanley & Co. Inc.
Co-managers were Wells Fargo Securities and Loop Capital Markets LLC.
Proceeds will be used to repay short-term debt incurred under a commercial paper program and for general corporate purposes.
The drugstore chain is based in Deerfield, Ill.
| Issuer: | Walgreen Co.
|
| Issue: | Senior unsecured notes
|
| Amount: | $1 billion
|
| Maturity: | Jan. 15, 2019
|
| Bookrunners: | Banc of America Securities LLC, Goldman Sachs & Co., J.P. Morgan Securities Inc., Morgan Stanley & Co. Inc.
|
| Co-managers: | Wells Fargo Securities, Loop Capital Markets LLC
|
| Coupon: | 5.25%
|
| Price: | 99.477
|
| Yield: | 5.318%
|
| Spread: | Treasuries plus 287.5 bps
|
| Call: | Make-whole at Treasuries plus 45 bps
|
| Change-of-control put: | 101%
|
| Trade date: | Jan. 8
|
| Settlement date: | Jan. 13
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A+
|
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