By Andrea Heisinger
Omaha, April 8 - Wal-Mart Stores Inc. priced $2.5 billion of notes (Aa2/AA/AA) in two tranches Tuesday, an informed source said.
A $1 billion tranche of 4.25% five-year notes priced at 99.759 to yield 4.304%, or Treasuries plus 160 basis points. The tranche priced at the tight end of price talk that was in the 162.5 bps area.
A $1.5 billion tranche of 6.2% 30-year notes priced at 99.703 to yield 6.222%, or Treasuries plus 188 bps. The tranche also came on the tight end of price talk that was in the 190 bps area.
All of the notes are non-callable.
Bookrunners were Citigroup Global Markets Inc., Credit Suisse Securities LLC, Goldman Sachs & Co. and RBS Greenwich Capital.
Proceeds will be used for general corporate purposes.
The discount retail chain is based in Bentonville, Ark.
| Issuer: | Wal-Mart Stores Inc.
|
| Issue: | Notes
|
| Amount: | $2.5 billion
|
| Bookrunners: | Citigroup Global Markets Inc., Credit Suisse Securities LLC, Goldman Sachs & Co., RBS Greenwich Capital
|
| Call: | Non-callable
|
| Trade date: | April 8
|
| Settlement date: | April 15
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Fitch: AA
|
|
|
| Five-year tranche
|
| Amount: | $1 billion
|
| Maturity: | April 15, 2013
|
| Coupon: | 4.25%
|
| Price: | 99.759
|
| Yield: | 4.304%
|
| Spread: | Treasuries plus 160 bps
|
| Price talk: | Treasuries plus 162.5 bps area
|
|
|
| 30-year tranche
|
| Amount: | $1.5 billion
|
| Maturity: | April 15, 2038
|
| Coupon: | 6.2%
|
| Price: | 99.703
|
| Yield: | 6.222%
|
| Spread: | Treasuries plus 188 bps
|
| Price talk: | Treasuries plus 190 bps area
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
