By Devika Patel
Knoxville, Tenn., Aug. 10 – Unilever Capital Corp. priced $2 billion of notes (A1/A+/) in three tranches on Monday, according to an FWP filed with the Securities and Exchange Commission.
There was $500 million of 0.626% three-year bonds sold with a 20 bps spread over Treasuries. Pricing was at par to yield 0.626%. The notes were talked in the Treasuries plus 45 bps to 50 bps area.
The company sold $850 million of 1.75% 10-year bonds with a 50 bps spread over Treasuries. Pricing was at 99.345 to yield 1.822%. These notes were talked in the Treasuries plus 70 bps area.
Unilever priced $650 million of 2.625% 30-year bonds with a 70 bps spread over Treasuries. Pricing was at 99.708 to yield 2.688%. These notes were talked in the Treasuries plus 90 bps area.
The notes are guaranteed by Unilever plc and Unilever United States, Inc.
Citigroup Global Markets Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Mizuho Securities USA Inc. were the bookrunners.
Proceeds will be used for general corporate purposes.
The U.S. office of the Dutch and English consumer goods company is based in Englewood Cliffs, N.J.
| Issuer: | Unilever Capital Corp.
|
| Guarantor: | Unilever plc and Unilever United States, Inc.
|
| Issue: | Notes
|
| Amount: | $2 billion
|
| Bookrunners: | Citigroup Global Markets Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Mizuho Securities USA Inc.
|
| Trade date: | Aug. 9
|
| Settlement date: | Aug. 12
|
| Ratings: | Moody’s: A1
|
| S&P: A+
|
| Distribution: | SEC registered
|
|
|
| Three-year notes
|
| Amount: | $500 million
|
| Maturity: | Aug. 12, 2024
|
| Coupon: | 0.626%
|
| Price: | Par
|
| Yield: | 0.626%
|
| Spread: | Treasuries plus 20 bps
|
| Call: | Make-whole call at Treasuries plus 5 bps until Aug. 12, 2022, then a par call
|
| Price guidance: | Treasuries plus 45 bps to 50 bps area
|
|
|
| 10-year notes
|
| Amount: | $850 million
|
| Maturity: | Aug. 12, 2031
|
| Coupon: | 1.75%
|
| Price: | 99.345
|
| Yield: | 1.822%
|
| Spread: | Treasuries plus 50 bps
|
| Call: | Make-whole call at Treasuries plus 10 bps until May 12, 2031 and then a par call
|
| Price guidance: | Treasuries plus 70 bps area
|
|
|
| 30-year notes
|
| Amount: | $650 million
|
| Maturity: | Aug. 12, 2051
|
| Coupon: | 2.625%
|
| Price: | 99.708
|
| Yield: | 2.688%
|
| Spread: | Treasuries plus 70 bps
|
| Call: | Make-whole call at Treasuries plus 15 bps until Feb. 12, 2051 and then a par call
|
| Price guidance: | Treasuries plus 90 bps area
|
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