By Andrea Heisinger
New York, Sept. 14 - Woolworths Ltd. priced $1.25 billion of senior unsecured notes (A3/A-/) in two tranches on Tuesday, a source close to the sale said.
A $500 million tranche of 2.55% five-year notes priced at 99.883 to yield 2.575% with a spread of 115 basis points over Treasuries.
A $750 million tranche of 4% 10-year notes priced at 99.877 to yield 4.015% with a spread of 135 bps over Treasuries.
The non-callable notes were priced under Rule 144A and Regulation S.
Bookrunners were Bank of America Merrill Lynch, Citigroup Global Markets and J.P. Morgan Securities.
The retailer of food and other products in Australia and New Zealand is based in Bella Vista, Australia.
| Issuer: | Woolworths Ltd.
|
| Issue: | Senior unsecured notes
|
| Amount: | $1.25 billion
|
| Bookrunners: | Bank of America Merrill Lynch, Citigroup Global Markets, J.P. Morgan Securities
|
| Distribution: | Rule 144A and Regulation S
|
| Trade date: | Sept. 14
|
| Settlement date: | Sept. 22
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A-
|
|
|
| Five-year notes
|
| Amount: | $500 million
|
| Maturity: | Sept. 22, 2015
|
| Coupon: | 2.55%
|
| Price: | 99.883
|
| Yield: | 2.575%
|
| Spread: | Treasuries plus 115 bps
|
| Call: | Non-callable
|
|
|
| 10-year notes
|
| Amount: | $750 million
|
| Maturity: | Sept. 22, 2020
|
| Coupon: | 4%
|
| Price: | 99.877
|
| Yield: | 4.015%
|
| Spread: | Treasuries plus 135 bps
|
| Call: | Non-callable
|
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