By Cristal Cody
Tupelo, Miss., May 19 – Scentre Management Ltd. priced $1.5 billion of notes (A2/A) in two parts on Tuesday, according to a market source.
A $750 million tranche of 3.625% notes due Jan. 28, 2026 priced at a spread of Treasuries plus 340 basis points.
The issue was talked to print at the 400 bps over Treasuries area.
The company sold $750 million of 4.375% 10-year notes at a 370 bps over Treasuries spread.
Initial price talk on the 10-year notes was at the 412.5 bps spread area.
BNP Paribas Securities Corp., Citigroup Global Markets Inc., J.P. Morgan Securities LLC and SMBC Nikko Securities America Inc. were the bookrunners.
Scentre Management is a Sydney, Australia-based investment manager and subsidiary of Scentre Group.
| Issuer: | Scentre Management Ltd.
|
| Amount: | $1.5 billion
|
| Description: | Notes
|
| Bookrunners: | BNP Paribas Securities Corp., Citigroup Global Markets Inc., J.P. Morgan Securities LLC and SMBC Nikko Securities America Inc.
|
| Trade date: | May 19
|
| Ratings: | Moody’s: A2
|
| S&P: A
|
|
|
| Notes due 2026
|
| Amount: | $750 million
|
| Maturity: | Jan. 28 2026
|
| Coupon: | 3.625%
|
| Spread: | Treasuries plus 340 bps
|
| Price guidance: | Treasuries plus 400 bps area
|
|
|
| Notes due 2030
|
| Amount: | $750 million
|
| Maturity: | May 28, 2030
|
| Coupon: | 4.375%
|
| Spread: | Treasuries plus 370 bps
|
| Price guidance: | Treasuries plus 412.5 bps area
|
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