By Andrea Heisinger
New York, Feb. 12 - Walt Disney Co. sold $800 million of two-year floating-rate notes (A2/A/A) in Tuesday's session at par to yield Libor minus 1 basis point, a market source said.
The size of the offering was increased from $500 million.
Price talk was in the Libor flat area, with the notes pricing below that level.
There is no call option.
Bookrunners were Credit Suisse Securities (USA) LLC, Mizuho Securities USA Inc. and RBC Capital Markets LLC.
Proceeds will be used for general corporate purposes, including repayment of short-term debt.
Disney was last in the U.S. bond market with a $3 billion trade in four tranches on Nov. 27, 2012.
The entertainment and media company is based in Burbank, Calif.
| Issuer: | Walt Disney Co.
|
| Issue: | Floating-rate notes
|
| Amount: | $800 million, increased from $500 million
|
| Maturity: | Feb. 11, 2015
|
| Bookrunners: | Credit Suisse Securities (USA) LLC, Mizuho Securities USA Inc., RBC Capital Markets LLC
|
| Coupon: | Libor minus 1 bp
|
| Price: | Par
|
| Yield: | Libor minus 1 bp
|
| Call: | Non-callable
|
| Trade date: | Feb. 12
|
| Settlement date: | Feb. 15
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
| Fitch: A
|
| Price talk: | Libor flat area
|
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