By Cristal Cody
Tupelo, Miss., Feb. 21 – Weyerhaeuser Co. priced $750 million of 4% senior notes due Nov. 15, 2029 (Baa2/BBB) on Thursday at a spread of 137.5 basis points over Treasuries, according to an FWP filed with the Securities and Exchange Commission.
The notes priced at 99.462 to yield 4.063%.
Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, BofA Merrill Lynch, Morgan Stanley & Co. LLC, MUFG and Wells Fargo Securities LLC were the bookrunners.
Proceeds will be used to issue a make-whole call for the company’s $500 million of remaining 7.375% notes due Oct. 1, 2019 and for general corporate purposes.
The company held fixed income investor calls on Tuesday.
Weyerhaeuser is a timber company based in Federal Way, Wash.
| Issuer: | Weyerhaeuser Co.
|
| Amount: | $750 million
|
| Description: | Senior notes
|
| Maturity: | Nov. 15, 2029
|
| Bookrunners: | Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, BofA Merrill Lynch, Morgan Stanley & Co. LLC, MUFG and Wells Fargo Securities LLC
|
| Co-managers: | PNC Capital Markets LLC, Rabo Securities, Scotia Capital (USA) Inc., U.S. Bancorp Investments Inc., BB&T Capital Markets, BNY Mellon Capital Markets LLC and Williams Capital Group LP
|
| Coupon: | 4%
|
| Price: | 99.462
|
| Yield: | 4.063%
|
| Spread: | Treasuries plus 137.5 bps
|
| Call features: | Make-whole call before Aug. 15. 2029 at price equal to greater of par and Treasuries plus 25 bps; thereafter at par
|
| Trade date: | Feb. 21
|
| Settlement date: | Feb. 25
|
| Ratings: | Moody’s: Baa2
|
| S&P: BBB
|
| Distribution: | SEC registered
|
| Marketing: | Fixed income investor calls
|
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