By Aleesia Forni
Virginia Beach, Oct. 22 – WGL Holdings Inc. priced $225 million of senior notes (A3//A/) in tranches due 2019 and 2044 on Wednesday, a market source said.
A $100 million tranche of 2.25% notes due 2019 priced at 99.792 to yield 2.294%, or Treasuries plus 85 basis points.
The company also priced $125 million of 4.6% 30-year bonds at 99.226 to yield 4.648%, or Treasuries plus 165 bps.
Both tranches sold in line with price guidance.
The bookrunners were Wells Fargo Securities LLC, BB&T Capital Markets and TD Securities.
Proceeds will be used for general corporate purposes.
WGL is a Washington, D.C.-based utility.
| Issuer: | WGL Holdings Inc.
|
| Issue: | Senior notes
|
| Amount: | $225 million
|
| Bookrunners: | Wells Fargo Securities LLC, BB&T Capital Markets, TD Securities
|
| Trade date: | Oct. 22
|
| Settlement date: | Oct. 24
|
| Ratings: | Moody’s: A3
|
| Fitch: A
|
| Distribution: | SEC registered
|
|
|
| Five-year notes
|
| Amount: | $100 million
|
| Maturity: | Nov. 1, 2019
|
| Coupon: | 2.25%
|
| Price: | 99.792
|
| Yield: | 2.294%
|
| Spread: | Treasuries plus 85 bps
|
| Price talk: | Treasuries plus 85 bps area
|
|
|
| 30-year bonds
|
| Amount: | $125 million
|
| Maturity: | Nov. 1, 2044
|
| Coupon: | 4.6%
|
| Price: | 99.226
|
| Yield: | 4.648%
|
| Spread: | Treasuries plus 165 bps
|
| Price talk: | Treasuries plus 165 bps area
|
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