Carlyle Finance offers $300 million 30-year senior notes; guidance at 255 bps spread area

By Cristal Cody

Tupelo, Miss., Sept. 7 – Carlyle Finance LLC (BBB+/BBB+) was marketing $300 million of senior guaranteed notes in a Rule 144A- and Regulation S-eligible offering on Friday to price at a spread in the area of 255 basis points over Treasuries, plus or minus 5 bps, according to a market source and a news release.

The notes due Sept. 15, 2048 were initially talked to price in the Treasuries plus 275 bps area.

J.P. Morgan Securities LLC and Morgan Stanley & Co., LLC are the bookrunners.

The notes will be guaranteed by parent company Carlyle Group LP and indirect subsidiaries Carlyle Holdings I LP, Carlyle Holdings II LP and Carlyle Holdings III LP.

Carlyle plans to use the proceeds to repay outstanding debt with a tender offer to purchase up to $250 million of 3.875% senior notes due 2023 and/or its promissory note due Jan. 1, 2022 and for general corporate purposes.

Carlyle Group is a Washington, D.C.-based investment firm.

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