The Wall Street Journal-20080124-New Securities Issues
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New Securities Issues
The following were among recent offerings and pricings in U.S. and non-U.S. capital markets, with terms and syndicate manager, based on information provided by Dow Jones Newswires and Factiva. (A basis point is one-hundredth of a percentage point; 100 basis points equal a percentage point.)
CORPORATE
Wal-Mart Stores Inc. -- $1.5 billion reopening was priced in a multitranche offering through joint lead managers Deutsche Bank, J.P. Morgan, Lehman Brothers and UBS, sources said. Terms: Amount: $750 million; maturity: Feb. 15, 2018; coupon: 5.80%; price: 104.605; spread: 167 basis points more than Treasurys; settlement: Jan. 30, 2008; ratings: Aa2 (Moody's Investors Service), double-A (Standard & Poor's Rating Service). Amount: $750 million; maturity: Aug., 15, 2037; coupon: 6.8%; price: 100.772; spread: 217 basis points more than Treasurys; settlement: Jan. 30, 2037; ratings: Aa2 (Moody's); double-A (S&P).
GLOBAL
The European Investment Bank -- $3 billion bond issue was priced through lead managers HSBC, J.P. Morgan and Morgan Stanley, a lead manager said. Terms: maturity: March 15, 2013; coupon: 2.875%; reoffer: 99.775; payment: Jan. 23, 2008; spread: 48 basis points more than Treasurys; ratings: Aaa (Moody's), triple-A (S& P), AAA (Fitch Inc.); denominations: $1,000; listing: Luxembourg.
