By Cristal Cody
Chicago, Jan. 18 – Daimler Truck Finance North America LLC sold $1.8 billion of notes across three tranches, a market source said.
The company priced two tranches for $650 million each and a third tranche for $500 million.
The first $650 million tranche priced with a 5.2% coupon and a two-year tenor. Pricing came at Treasuries plus 103 basis points. Initial talk started in the 130 bps area.
A second $650 million tranche priced with a 5.15% coupon and a three-year tenor. Spread pricing came at 123 bps to Treasuries after talk in the 150 bps area.
The longest tranche, a five-year issue, is $500 million of 5.125% notes that priced with a 148 bps spread. Talk started in the 175 bps area.
BBVA, Deutsche Bank, JPMorgan and Mizuho were the bookrunners.
The issuer is a subsidiary of Daimler Truck AG, a commercial vehicle manufacturer based in Stuttgart, Germany.
| Issuer: | Daimler Truck Finance North America LLC
|
| Amount: | $1.8 billion
|
| Issue: | Notes
|
| Bookrunners: | BBVA, Deutsche Bank, JPMorgan and Mizuho
|
| Trade date: | Jan. 11
|
|
|
| Two-year notes
|
| Amount: | $650 million
|
| Maturity: | Jan. 17, 2025
|
| Coupon: | 5.2%
|
| Spread: | Treasuries plus 103 bps
|
| Price talk: | Treasuries plus 130 bps area
|
|
|
| Three-year notes
|
| Amount: | $650 million
|
| Maturity: | Jan. 16, 2026
|
| Coupon: | 5.15%
|
| Spread: | Treasuries plus 123 bps
|
| Price talk: | Treasuries plus 150 bps area
|
|
|
| Five-year notes
|
| Amount: | $500 million
|
| Maturity: | Jan. 19, 2028
|
| Coupon: | 5.125%
|
| Spread: | Treasuries plus 148 bps
|
| Price talk: | Treasuries plus 175 bps area
|
|
|
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