By Cristal Cody
Tupelo, Miss., July 28 – Prosus NV priced $1 billion of 4.027% 30-year senior notes (Baa3/BBB-) at par to yield a spread of Treasuries plus 280 basis points on Monday, according to additional details of the offering from a market source.
Initial talk was in the 315 bps over Treasuries area.
BofA Securities, Inc., BNP Paribas Securities Corp., Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC were the bookrunners of the Rule 144A and Regulation S offering. Citigroup will bill and deliver.
Fixed income investor calls were held last week.
Proceeds will be used for general corporate purposes.
Amsterdam-based Prosus is the international internet assets division of South Africa’s Naspers Ltd.
| Issuer: | Prosus NV
|
| Amount: | $1 billion
|
| Maturity: | Aug. 3, 2050
|
| Description: | Senior notes
|
| Bookrunners: | BofA Securities, Inc., BNP Paribas Securities Corp., Citigroup Global Markets Inc. (bill and deliver) and Morgan Stanley & Co. LLC
|
| Coupon: | 4.027%
|
| Price: | Par
|
| Yield: | 4.027%
|
| Spread: | Treasuries plus 280 bps
|
| Call features: | Make-whole call; par call six months prior to maturity
|
| Change-of-control put: | 101%
|
| Trade date: | July 27
|
| Settlement date: | Aug. 3
|
| Ratings: | Moody’s: Baa3
|
| S&P: BBB-
|
| Distribution: | Rule 144A and Regulation S
|
| Marketing: | Fixed income investor calls
|
| Price guidance: | Treasuries plus 315 bps area
|
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