By Andrea Heisinger
New York, May 18 - Walt Disney Co. sold $500 million of 3.75% 10-year notes on Wednesday to yield Treasuries plus 60 basis points, said a source who worked on the trade.
The securities were sold in line with talk in the 60 bps area.
The notes (A2/A/A) were priced at 99.933 to yield 3.758%.
The notes are callable at the greater of par or a make-whole of Treasuries plus 10 bps.
Bookrunners were Bank of America Merrill Lynch, Citigroup Global Markets Inc. and RBS Securities Inc.
Proceeds are being used for general corporate purposes.
The media conglomerate is based in Burbank, Calif.
| Issuer: | Walt Disney Co.
|
| Issue: | Notes
|
| Amount: | $500 million
|
| Maturity: | June 1, 2021
|
| Bookrunners: | Bank of America Merrill Lynch, Citigroup Global Markets Inc., RBS Securities Inc.
|
| Coupon: | 3.75%
|
| Price: | 99.933
|
| Yield: | 3.758%
|
| Spread: | Treasuries plus 60 bps
|
| Call: | At greater of par or make-whole of Treasuries plus 10 bps
|
| Trade date: | May 18
|
| Settlement date: | May 23
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
| Fitch: A
|
| Price talk: | 60 bps area
|
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