New Issue: 21st Century Fox prices $1 billion of notes in 10-, 30-year tranches

By Aleesia Forni

Virginia Beach, Oct. 14 – 21st Century Fox America Inc., a wholly owned subsidiary of Twenty-First Century Fox, Inc., was in Wednesday’s market with a $1 billion offering of senior notes (Baa1/BBB+/BBB+) in tranches due 2025 and 2045, a market source said.

A $600 million 3.7% tranche of 10-year bonds sold at Treasuries plus 175 basis points.

Also priced was $400 million of 4.95% 30-year bonds at Treasuries plus 215 bps.

Both tranches were sold at the tight end of price guidance.

J.P. Morgan Securities LLC, BofA Merrill Lynch, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. and Morgan Stanley & Co. LLC are the bookrunners for the Rule 144A and Regulation S deal.

The mass media company is based in New York.

Issuer:	21st Century Fox America Inc.
Issue:	Senior notes
Amount:	$1 billion
Bookrunners:	J.P. Morgan Securities LLC, BofA Merrill Lynch, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co., Morgan Stanley & Co. LLC
Trade date:	Oct. 14
Ratings:	Moody’s: Baa1
	Standard & Poor’s: BBB+
	Fitch: BBB+ (expected)
Distribution:	Rule 144A, Regulation S
10-year notes
Amount:	$600 million
Maturity:	Oct. 15, 2025
Coupon:	3.7%
Spread:	Treasuries plus 175 bps
Price guidance:	Treasuries plus 180 bps area, tightened from Treasuries plus 195 bps area
30-year notes
Amount:	$400 million
Maturity:	Oct. 15, 2045
Coupon:	4.95%
Spread:	Treasuries plus 215 bps
Price guidance:	Treasuries plus 220 bps area, tightened from Treasuries plus 235 bps area

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