Western Union will price senior notes in two parts, including add-on

By Devika Patel

Knoxville, Tenn., Aug. 15 – Western Union Co. intends to offer senior notes in two tranches, including an add-on to its 3.6% senior notes (Baa2/BBB/BBB+) due March 15, 2022, according to a 424B5 filing with the Securities and Exchange Commission.

The company sold $400 million of the 3.6% notes on March 8 in a deal that settled on March 15. The notes were priced at 99.859 to yield 3.631% with a spread of 155 bps over Treasuries.

The new notes will be a floating-rate tranche due in 2019.

The new notes are non-callable. The 3.6% notes have a make-whole call at Treasuries plus 25 bps until Feb. 15, 2022, then a par call.

Citigroup Global Markets Inc. and U.S. Bancorp Investments Inc. are the bookrunners.

Proceeds will be used for general corporate purposes.

Western Union is an Englewood, Colo.-based money transfer network.

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