By Cristal Cody
Tupelo, Miss., Sept. 11 – Hewlett Packard Enterprise Co. priced $1.1 billion of 2.1% two-year senior notes (Baa2/BBB/BBB+) in a Rule 144A and Regulation S offering on Monday at a spread of 78 basis points over Treasuries, according to a market source.
The notes were talked to price in the 80 bps area over Treasuries.
The company dropped an initial planned two-year floating-rate tranche from the final deal.
BNP Paribas Securities Corp., Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC were the bookrunners.
The company on Friday held fixed income investor calls for the offering.
The Palo Alto, Calif., technology company intends to use the proceeds to repay $750 million of its 2.45% notes due 2017, to repay $350 million of its floating-rate notes due 2017 and for general corporate purposes.
| Issuer: | Hewlett Packard Enterprise Co.
|
| Amount: | $1.1 billion
|
| Description: | Senior notes
|
| Maturity: | Oct. 4, 2019
|
| Bookrunners: | BNP Paribas Securities Corp., Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC
|
| Coupon: | 2.1%
|
| Spread: | Treasuries plus 78 bps
|
| Trade date: | Sept. 11
|
| Ratings: | Moody’s: Baa2
|
| S&P: BBB
|
| Fitch: BBB+
|
| Distribution: | Rule 144A, Regulation S
|
| Price talk: | Treasuries plus 80 bps area
|
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