By Cristal Cody
Tupelo, Miss., June 12 – Bemis Co., Inc. sold $500 million of 2.63% 10-year senior notes (Baa2/BBB) at par to yield a spread of 195 basis points over Treasuries on Friday, according to a market source and an FWP filing with the Securities and Exchange Commission.
Initial price talk was in the 250 bps spread area.
J.P. Morgan Securities LLC was the global coordinator and joint bookrunner. Other bookrunners were BofA Securities Inc., Citigroup Global Markets Inc., Wells Fargo Securities LLC, BNP Paribas Securities Corp., HSBC Securities (USA) Inc. and MUFG.
The notes are guaranteed by Amcor plc, Amcor Finance (USA), Inc., Amcor UK Finance plc and Amcor Pty Ltd.
Parent company Amcor conducted global fixed income investor calls that began on Wednesday for a dual currency offering of dollar- and euro-denominated notes.
Proceeds will be used for general corporate purposes.
Bemis is a diversified packaging company based in Neenah, Wis.
| Issuer: | Bemis Co., Inc.
|
| Guarantors: | Amcor plc, Amcor Finance (USA), Inc., Amcor UK Finance plc and Amcor Pty Ltd.
|
| Amount: | $500 million
|
| Description: | Senior notes
|
| Maturity: | June 19, 2030
|
| Bookrunners: | J.P. Morgan Securities LLC (global coordinator); BofA Securities Inc., Citigroup Global Markets Inc., Wells Fargo Securities LLC, BNP Paribas Securities Corp., HSBC Securities (USA) Inc. and MUFG
|
| Coupon: | 2.63%
|
| Price: | Par
|
| Yield: | 2.63%
|
| Spread: | Treasuries plus 195 bps
|
| Call features: | Make-whole call before March 19, 2030 at Treasuries plus 30 bps; thereafter at par
|
| Trade date: | June 12
|
| Settlement date: | June 19
|
| Ratings: | Moody’s: Baa2
|
| S&P: BBB
|
| Distribution: | SEC registered
|
| Marketing: | Fixed income investor calls
|
| Price guidance: | Treasuries plus 250 bps area
|
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