By Cristal Cody
Eureka Springs, Ark., Nov. 15 – Twenty-First Century Fox, Inc. subsidiary 21st Century Fox America, Inc. sold $850 million of senior notes (Baa1/BBB+/BBB+) in a private Rule 144A and Regulation S offering on Tuesday, according to a market source and a news release.
The company priced $450 million of 3.375% 10-year notes with a spread of 117 basis points over Treasuries.
In the second tranche, $400 million of 4.75% 30-year notes were sold with a spread of 177 bps over Treasuries.
Both tranches priced on the tight side of guidance.
J.P. Morgan Securities LLC was the bookrunner.
The notes are guaranteed by the parent company.
Proceeds will be used for general corporate purposes.
New York-based Twenty-First Century Fox operates cable and broadcasting networks and properties.
| Issuer: | Twenty-First Century Fox America, Inc.
|
| Guarantor: | Twenty-First Century Fox, Inc.
|
| Amount: | $850 million
|
| Description: | Senior notes
|
| Bookrunner: | J.P. Morgan Securities LLC
|
| Trade date: | Nov. 15
|
| Settlement date: | Nov. 18
|
| Ratings: | Moody’s: Baa1
|
| S&P: BBB+
|
| Fitch: BBB+
|
| Distribution: | Rule 144A, Regulation S, private
|
|
|
| 10-year notes
|
| Amount: | $450 million
|
| Maturity: | Nov. 15, 2026
|
| Coupon: | 3.375%
|
| Spread: | Treasuries plus 117 bps
|
| Price guidance: | Treasuries plus 120 bps area, plus or minus 3 bps
|
|
|
| 30-year notes
|
| Amount: | $400 million
|
| Maturity: | Nov. 15, 2046
|
| Coupon: | 4.75%
|
| Spread: | Treasuries plus 177 bps
|
| Price guidance: | Treasuries plus 180 bps area, plus or minus 3 bps
|
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