By Rebecca Melvin
New York, July 1 – Weibo Corp. priced $750 million 3 3/8% 10-year senior notes (Baa1/BBB) at 99.337 to yield 3.454%, or a spread of 280 basis points over U.S. Treasuries, according to a company news release and a filing with the Securities and Exchange Commission.
Goldman Sachs (Asia) LLC is the bookrunner.
The notes are callable for a make-whole premium of Treasuries plus 45 bps prior to April 8, 2030, then at par afterward.
Proceeds of the SEC-registered notes will be used for general corporate purposes.
The social media company is based in Beijing.
| Issuer: | Weibo Corp.
|
| Issue: | Senior notes
|
| Amount: | $750 million
|
| Maturity: | July 8, 2030
|
| Bookrunner: | Goldman Sachs (Asia) LLC
|
| Co-manager: | China International Capital Corp. Hong Kong Securities Ltd.
|
| Coupon: | 3 3/8%
|
| Price: | 99.337
|
| Yield: | 3.454%
|
| Spread: | Treasuries plus 280 bps
|
| Call: | Callable at a make whole of the greater of 100% and a discount rate of Treasuries plus 45 bps prior to April 8, 2030, then at par
|
| Pricing date: | June 30
|
| Settlement date: | July 8
|
| Ratings: | Moody’s: Baa1
|
| S&P: BBB
|
| Distribution: | SEC registered
|
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