By Aleesia Forni
Virginia Beach, Sept. 30 – BAE Systems Holdings Inc. sold $1.1 billion of senior notes (Baa3/BBB+/BBB+) in 10- and 30-year tranches on Tuesday, a market source said.
There was $800 million of 10-year notes sold at 99.703 to yield 3.836%, or Treasuries plus 135 basis points.
A second tranche was $300 million of 4.75% 30-year bonds priced at 99.477 to yield 4.783%, or Treasuries plus 160 bps.
Both tranches sold at the tight end of talk.
Proceeds will be used for general corporate purposes.
The bookrunners are Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and Goldman Sachs & Co.
The multinational aerospace and defense company is based in London.
| Issuer: | BAE Systems Holdings Inc.
|
| Guarantor: | BAE Systems plc
|
| Issue: | Senior notes
|
| Amount: | $1.1 billion
|
| Bookrunners: | Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co.
|
| Trade date: | Sept. 30
|
| Ratings: | Moody’s: Baa3
|
| Standard & Poor’s: BBB+
|
| Fitch: BBB+
|
| Distribution: | Rule 144A, Regulation S
|
|
|
| 10-year notes
|
| Amount: | $800 million
|
| Maturity: | Oct. 7, 2024
|
| Coupon: | 3.8%
|
| Price: | 99.703
|
| Yield: | 3.836%
|
| Spread: | Treasuries plus 135 bps
|
| Price talk: | Treasuries plus 140 bps area
|
|
|
| 30-year bonds
|
| Amount: | $300 million
|
| Maturity: | Oct. 7, 2044
|
| Coupon: | 4.75%
|
| Price: | 99.477
|
| Yield: | 4.783%
|
| Spread: | Treasuries plus 160 bps
|
| Price talk: | Treasuries plus 165 bps area
|
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