Published on 11/2/2021 in the Prospect News Investment Grade Daily.
New Issue: Walgreens prices $850 million 0.95% notes due 2023 at Treasuries plus 50 bps
By Wendy Van Sickle
Columbus, Ohio, Nov. 2 – Walgreens Boots Alliance, Inc. priced $850 million of 0.95% two-year notes (Baa2/BBB) at Treasuries plus 50 basis points on Tuesday, according to a 424B5 filed with the Securities and Exchange Commission.
The notes priced at 99.984 to yield 0.958%.
The notes feature a make-whole call at Treasuries plus 10 bps until May 17, 2022 and then a par call.
BofA Securities Inc., J.P. Morgan Securities LLC, SMBC Nikko Securities America Inc., Wells Fargo Securities LLC, Deutsche Bank Securities Inc., Mizuho Securities USA LLC and Morgan Stanley & Co. LLC are the bookrunners.
Proceeds are expected to be used for general corporate purposes.
Walgreens is a Deerfield, Ill.-based drugstore chain.
| Issuer: | Walgreens Boots Alliance, Inc.
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| Issue: | Notes
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| Amount: | $850 million
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| Maturity: | Nov. 17, 2023
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| Bookrunners: | BofA Securities Inc., J.P. Morgan Securities LLC, SMBC Nikko Securities America Inc., Wells Fargo Securities LLC, Deutsche Bank Securities Inc., Mizuho Securities USA LLC and Morgan Stanley & Co. LLC
|
| Senior co-managers: | Citigroup Global Markets Inc., HSBC Securities (USA) Inc., UBS Securities LLC, UniCredit Capital Markets LLC and U.S. Bancorp Investments, Inc.
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| Co-managers: | Academy Securities, Inc., Intesa Sanpaolo SpA, Loop Capital Markets LLC, NatWest Markets Securities Inc., Samuel A. Ramirez & Co., Inc. and Truist Securities, Inc.
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| Coupon: | 0.95%
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| Price: | 99.984
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| Yield: | 0.958%
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| Spread: | Treasuries plus 50 bps
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| Call: | Make-whole call at Treasuries plus 10 bps until May 17, 2022 and then a par call
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| Ratings: | Moody’s: Baa2
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| S&P: BBB
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| Distribution: | SEC registered
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| Cusip: | 931427AU2
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