By Cristal Cody
Chicago, March 22 – Roche Holdings, Inc. sold $3.88 billion of notes in four parts (Aa2/AA), according to a market source.
The deal includes $875 million of 4.79% five-year notes, priced at Treasuries plus 58 basis points after talk in the 80 bps to 85 bps area.
One of the middle tranches priced as $750 million of 4.909% notes with a seven-year tenor. Spread pricing came at 68 bps to the benchmark Treasury after talk in the 90 bps to 95 bps area.
The second middle tranche was a $1.25 billion 10-year note. The 4.985% coupon represented a 77 bps spread to Treasuries. Talk started in the 100 bps area.
The issuer also sold $1 billion of 30-year notes. The 5.218% coupon priced as 87 bps to Treasuries. Talk was in the 110 bps area.
Barclays, Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC were the bookrunners.
The notes are guaranteed by Roche Holding Ltd.
The drug maker is based in Basel, Switzerland.
| Issuer: | Roche Holdings, Inc.
|
| Guarantor: | Roche Holding Ltd.
|
| Amount: | $3,875,000,000
|
| Issue: | Senior notes
|
| Bookrunners: | Barclays, Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC
|
| Counsel to issuer: | Homburger
|
| Trade date: | March 4
|
| Ratings: | Moody’s: Aa2
|
| S&P: AA
|
|
|
| Five-year notes
|
| Amount: | $875 million
|
| Maturity: | March 8, 2029
|
| Coupon: | 4.79%
|
| Spread: | Treasuries plus 58 bps
|
| Price talk: | Treasuries plus 80 bps to 85 bps area
|
|
|
| Seven-year notes
|
| Amount: | $750 million
|
| Maturity: | March 8, 2031
|
| Coupon: | 4.909%
|
| Spread: | Treasuries plus 68 bps
|
| Price talk: | Treasuries plus 90 bps to 95 bps area
|
|
|
| 10-year notes
|
| Amount: | $1.25 billion
|
| Maturity: | March 8, 2034
|
| Coupon: | 4.985%
|
| Spread: | Treasuries plus 77 bps
|
| Price talk: | Treasuries plus 100 bps area
|
|
|
| 30-year notes
|
| Amount: | $1 billion
|
| Maturity: | March 8, 2054
|
| Coupon: | 5.218%
|
| Spread: | Treasuries plus 87 bps
|
| Price talk: | Treasuries plus 110 bps area
|
|
|
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