By Cristal Cody
Tupelo, Miss., Sept. 4 – Unilever Capital Corp. sold $1.5 billion of guaranteed senior notes (A1/A+/A+) in three tranches on the tight side of guidance on Tuesday, according to a market source.
The company priced $500 million of 3% notes due March 7, 2022 at a spread of Treasuries plus 42 basis points.
Unilever sold $500 million of 3.25% notes due March 7, 2024 at a Treasuries plus 62 bps spread.
The company also priced a $500 million add-on to its 3.5% notes due March 22, 2028 at a Treasuries plus 72 bps spread.
The issue originally priced on March 19 in an $800 million offering at 98.489 to yield 3.682%, or a spread of Treasuries plus 83 bps. The total outstanding is now $1.3 billion.
BofA Merrill Lynch, Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and UBS Securities LLC were the bookrunners.
The notes are guaranteed by Unilever NV, Unilever plc and Unilever United States, Inc.
Proceeds will be 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.
|
| Guarantors: | Unilever NV, Unilever plc and Unilever United States, Inc.,
|
| Amount: | $1.5 billion
|
| Description: | Senior notes
|
| Bookrunners: | Citigroup Global Markets Inc., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc. and Morgan Stanley & Co. LLC
|
| Trade date: | Sept. 4
|
| Ratings: | Moody’s: A1
|
| S&P: A+
|
| Fitch: A+
|
| Distribution: | SEC registered
|
|
|
| Four-year notes
|
| Amount: | $500 million
|
| Maturity: | March 7, 2022
|
| Coupon: | 3%
|
| Spread: | Treasuries plus 42 bps
|
| Price guidance: | Treasuries plus 45 bps area, plus or minus 3 bps; initial price talk at Treasuries plus 55 bps area
|
|
|
| Six-year notes
|
| Amount: | $500 million
|
| Maturity: | March 7, 2024
|
| Coupon: | 3.25%
|
| Spread: | Treasuries plus 62 bps
|
| Price guidance: | Treasuries plus 65 bps area, plus or minus 3 bps; initial price talk at Treasuries plus 70 bps area
|
|
|
| 10-year notes
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| Amount: | $500 million reopening
|
| Maturity: | March 22, 2028
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| Coupon: | 3.5%
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| Spread: | Treasuries plus 72 bps
|
| Price guidance: | Treasuries plus 75 bps area, plus or minus 3 bps; initial price talk at Treasuries plus 85 bps area
|
| Total outstanding: | $1.3 billion, including $800 million of notes priced March 19 at 98.489 to yield 3.682%, or a spread of Treasuries plus 83 bps
|
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