By Aleesia Forni
Virginia Beach, Nov. 6 - WPP Finance 2010 priced $500 million of 5.625% 30-year senior notes (Baa2/BBB/) on Wednesday with a spread of Treasuries plus 200 basis points, according to an FWP filed with the Securities and Exchange Commission.
Pricing was at 97.455 to yield 5.805%.
Proceeds will be used for general corporate purposes, including the partial refinancing of debt maturing in 2014, including the 5.875% notes due June 15, 2014 and the 8% notes due Sept. 15, 2014.
BNP Paribas Securities Corp., Citigroup Global Markets Inc., Goldman Sachs & Co., RBS Securities Inc. and Wells Fargo Securities LLC were the joint bookrunners.
The communication services company is based in Dublin, Ireland.
| Issuer: | WPP Finance 2010
|
| Guarantor: | WPP plc, WPP Jubilee Ltd., WPP 2005 Ltd.
|
| Amount: | $500 million
|
| Description: | Senior notes
|
| Maturity: | Nov. 15, 2043
|
| Bookrunners: | BNP Paribas Securities Corp., Citigroup Global Markets Inc., Goldman Sachs & Co., RBS Securities Inc., Wells Fargo Securities LLC
|
| Coupon: | 5.625%
|
| Price: | 97.455
|
| Yield: | 5.805%
|
| Spread: | Treasuries plus 200 bps
|
| Make-whole call: | Treasuries plus 30 bps
|
| Trade date: | Nov. 6
|
| Settlement date: | Nov. 12
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB
|
| Distribution: | SEC registered
|
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