By Devika Patel
Knoxville, Tenn., May 3 – Unilever Capital Corp. offered further details on a $3.15 billion issue of senior notes (A1/A+/A+) that priced in four tranches on Tuesday, according to an FWP filed with the Securities and Exchange Commission.
The company priced $800 million of 1.8% three-year notes at a spread of Treasuries plus 47 basis points. These notes priced at 99.681 to yield 1.91%.
Unilever sold $850 million of 2.2% five-year notes at a Treasuries plus 57 bps spread. These notes priced at 99.198 to yield 2.371%.
The company placed $500 million of 2.6% seven-year notes with a spread of 67 bps over Treasuries. These notes priced at 99.007 to yield 2.757%.
Unilever also brought $1 billion of 2.9% 10-year notes at a Treasuries plus 80 bps spread. These notes priced at 98.461 to yield 3.08%.
Deutsche Bank Securities Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC were the bookrunners.
The notes are guaranteed unconditionally by Unilever NV, Unilever plc and Unilever United States, Inc., according to a 424B3 filed with the Securities and Exchange Commission.
Proceeds will be used for Unilever's previously announced share buy-back program and 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.
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| Guarantors: | Unilever NV, Unilever plc and Unilever United States, Inc.
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| Amount: | $3.15 billion
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| Description: | Senior notes
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| Bookrunners: | Deutsche Bank Securities Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC
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| Co-managers: | Citigroup Global Markets Inc., HSBC Securities (USA) Inc., Mizuho Securities USA Inc., RBS Securities Inc., Santander Investment Securities Inc. and UBS Securities LLC
|
| Trade date: | May 2
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| Settlement date: | May 5
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| Ratings: | Moody’s: A1
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| S&P: A+
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| Fitch: A+
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| Distribution: | SEC registered
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|
|
| Three-year notes
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| Amount: | $800 million
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| Maturity: | May 5, 2020
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| Price: | 99.681
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| Coupon: | 1.8%
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| Yield: | 1.91%
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| Spread: | Treasuries plus 47 bps
|
| Call features: | Make-whole call at Treasuries plus 10 bps
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| Price guidance: | Treasuries plus 50 bps area, plus or minus 3bps
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|
|
| Five-year notes
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| Amount: | $850 million
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| Maturity: | May 5, 2022
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| Price: | 99.198
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| Coupon: | 2.2%
|
| Yield: | 2.371%
|
| Spread: | Treasuries plus 57 bps
|
| Call features: | Make-whole call at Treasuries plus 10 bps until April 5, 2022, then a par call
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| Price guidance: | Treasuries plus 60 bps area, plus or minus 3 bps
|
|
|
| Seven-year notes
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| Amount: | $500 million
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| Maturity: | May 5, 2024
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| Price: | 99.007
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| Coupon: | 2.6%
|
| Yield: | 2.757%
|
| Spread: | Treasuries plus 67 bps
|
| Call features: | Make-whole call at Treasuries plus 12.5 bps until March 5, 2024, then a par call
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| Price guidance: | Treasuries plus 70 bps area, plus or minus 3 bps
|
|
|
| 10-year notes
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| Amount: | $1 billion
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| Maturity: | May 5, 2027
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| Price: | 98.461
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| Coupon: | 2.9%
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| Yield: | 3.08%
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| Spread: | Treasuries plus 80 bps
|
| Call features: | Make-whole call at Treasuries plus 15 bps until Feb. 5, 2027, then a par call
|
| Price guidance: | Treasuries plus 80 bps area
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