By Cristal Cody
Tupelo, Miss., May 18 – Alcon Finance Corp. priced $750 million of 2.6% 10-year senior notes (Baa2/BBB) on Monday at a spread of 190 basis points over Treasuries, according to a market source.
Initial price talk was in the Treasuries plus 225 bps area.
Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC were the bookrunners.
The notes are guaranteed by parent company Alcon Inc.
Proceeds will be used for general corporate purposes.
Alcon Finance is a Fort Worth, Tex.-based financing arm of eye care company Alcon Inc.
| Issuer: | Alcon Finance Corp.
|
| Guarantor: | Alcon Inc.
|
| Amount: | $750 million
|
| Maturity: | May 27, 2030
|
| Description: | Senior notes
|
| Bookrunners: | Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC
|
| Coupon: | 2.6%
|
| Spread: | Treasuries plus 190 bps
|
| Trade date: | May 18
|
| Ratings: | Moody’s: Baa2
|
| S&P: BBB
|
| Price guidance: | Treasuries plus 225 bps area
|
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