By Rebecca Melvin
New York, June 26 – Weibo Corp. priced $800 million of 3˝% five-year notes (expected ratings: Baa1/BBB) at par for a yield spread of 172.5 basis points over Treasuries, according to a pricing term sheet on Wednesday.
Goldman Sachs (Asia) LLC was the bookrunner of the notes that are registered with the Securities and Exchange Commission.
The notes are callable for a make whole amount equal to the greater of 100% and a discount rate of Treasuries plus 30 bps.
The company intends to use proceeds for general corporate purposes.
The social media company is based in Beijing.
| Issuer: | Weibo Corp.
|
| Issue: | Notes
|
| Amount: | $800 million
|
| Maturity: | July 5, 2024
|
| Bookrunner: | Goldman Sachs (Asia) LLC
|
| Co-managers: | HSBC and Industrial and Commercial Bank (Asia) Ltd.
|
| Coupon: | 3˝%
|
| Price: | Par
|
| Yield: | 3˝%
|
| Spread: | Treasuries plus 172.5 bps
|
| Call: | Callable at a make whole of the greater of 100% and a discount rate of Treasuries plus 30 bps
|
| Pricing date: | June 26
|
| Settlement date: | July 5
|
| Ratings: | Moody’s: Baa1
|
| S&P: BBB
|
| Distribution: | SEC registered
|
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