By Andrea Heisinger
New York, June 16 - The Western Union Co. sold $250 million of 6.2% 30-year senior unsecured notes on Wednesday to yield Treasuries plus 200 basis points, a source who worked on the deal said.
The notes (A3/A-/A-) priced at 99.878 to yield 6.209%.
The notes have a make-whole call at Treasuries plus 30 bps and feature a change-of-control put at 101%.
Bookrunners were Bank of America Merrill Lynch, Barclays Capital Inc. and Wells Fargo Securities.
BNP Paribas Securities Corp., Fifth Third Securities Inc., Scotia Capital USA Inc. and SG Americas Securities LLC were the co-managers.
Proceeds will be used for general corporate purposes, including debt repayment.
The financial services and communications company is based in Englewood, Colo.
| Issuer: | The Western Union Co.
|
| Issue: | Senior unsecured notes
|
| Amount: | $250 million
|
| Maturity: | June 21, 2040
|
| Bookrunners: | Bank of America Merrill Lynch, Barclays Capital Inc., Wells Fargo Securities
|
| Co-managers: | BNP Paribas Securities Corp., Fifth Third Securities Inc., Scotia Capital USA Inc., SG Americas Securities LLC
|
| Coupon: | 6.2%
|
| Price: | 99.878
|
| Yield: | 6.209%
|
| Spread: | Treasuries plus 200 bps
|
| Call: | Make-whole at Treasuries plus 30 bps
|
| Change-of-control put: | 101%
|
| Trade date: | June 16
|
| Settlement date: | June 21
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A-
|
| Fitch: A-
|
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