By Cristal Cody
Tupelo, Miss., Sept. 16 – Alcon Finance Corp. priced $2 billion of senior notes (Baa2/BBB) in three tranches on Monday, according to a market source.
The $500 million tranche of 2.75% seven-year notes priced at a spread of 105 basis points over Treasuries.
A $1 billion offering of 3% 10-year notes priced with a Treasuries plus 120 bps spread.
The company sold $500 million of 3.8% 30-year notes at a 150 bps over Treasuries spread.
The notes priced on the tight side of guidance.
BofA Securities, Inc., BNP Paribas Securities Corp., Citigroup Global Markets Inc., Morgan Stanley & Co. LLC and UBS Securities LLC were the bookrunners.
Alcon Finance is a Fort Worth, Tex.-based financing arm of eye care company Alcon Inc.
| Issuer: | Alcon Finance Corp.
|
| Amount: | $2 billion
|
| Description: | Senior notes
|
| Bookrunners: | BofA Securities, Inc., BNP Paribas Securities Corp., Citigroup Global Markets Inc., Morgan Stanley & Co. LLC and UBS Securities LLC
|
| Trade date: | Sept. 16
|
| Ratings: | Moody’s: Baa2
|
| S&P: BBB
|
|
|
| Seven-year notes
|
| Amount: | $500 million
|
| Maturity: | Sept. 23, 2026
|
| Coupon: | 2.75%
|
| Spread: | Treasuries plus 105 bps
|
| Price guidance: | Treasuries plus 110 bps area, plus or minus 5 bps; initial talk at Treasuries plus 140 bps area
|
|
|
| 10-year notes
|
| Amount: | $1 billion
|
| Maturity: | Sept. 23, 2029
|
| Coupon: | 3%
|
| Spread: | Treasuries plus 120 bps
|
| Price guidance: | Treasuries plus 125 bps area, plus or minus 5 bps; initial talk at Treasuries plus 150 bps area
|
|
|
| 30-year notes
|
| Amount: | $500 million
|
| Maturity: | Sept. 23, 2049
|
| Coupon: | 3.8%
|
| Spread: | Treasuries plus 150 bps
|
| Price guidance: | Treasuries plus 155 bps area, plus or minus 5 bps; initial talk at Treasuries plus 190 bps area
|
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