The Wall Street Journal-20080130-New Securities Issues

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New Securities Issues

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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

AT&T Inc. -- $4 billion of senior unsecured notes were priced in three parts through joint lead managers Banc of America Securities, Citigroup and Lehman Brothers, according to people familiar with the deal. Terms: Amount: $750 million; maturity: Jan. 15, 2013; coupon: 4.95%; price: 101.975; dividend: 4.498%; spread: 163 basis points more than Treasurys; settlement: Feb. 1, 2008; ratings: A2 (Moody's Investors Service), A (Standard & Poor's Rating Service). Amount: $2.5 billion; maturity: Feb. 1, 2018; coupon: 5.50%; price: 99.78; dividend: 5.529%; spread: 185 basis points more than Treasurys; settlement: Feb. 1, 2008; ratings: A2 (Moody's), A (S&P). Amount: $750 million; maturity: Jan. 15, 2038; coupon: 6.30%; price: 97.713; dividend: 6.472%; spread: 210 basis points more than Treasurys; settlement: Feb. 1, 2008; ratings: A2 (Moody's), A (S&P).

Bank of New York Mellon Corp. -- $700 million of senior floating- rate notes were priced through joint lead managers J.P. Morgan Chase and Morgan Stanley, according to people familiar with the deal. Terms: maturity: Feb. 5, 2010; coupon: three-month Libor plus 40 basis points; price: par; yield: three-month Libor plus 40 basis points; settlement: Feb. 5, 2008 (flat); ratings: Aa2 (Moody's), A-plus (S&P).

Merrill Lynch & Co. -- $2.25 billion of senior notes were priced in a self-led deal, according to people familiar with the deal. Terms: maturity: Feb. 5, 2013; coupon: 5.45%; price: 99.87; yield: 5.48%; spread: 262.5 basis points more than Treasurys; settlement: Feb. 5, 2008 (flat); ratings: A1 (Moody's), A-plus (S&P).

Republic of the Philippines -- $500 million of global notes were priced by reopening its existing 6.375% issue through joint lead managers Credit Suisse and Deutsche Bank, according to people familiar with the deal. Terms: maturity: Jan. 15, 2032; coupon: 6.375%; price: 98; yield: 6.541%; spread: 220.5 basis points more than Treasurys; settlement: Feb. 5, 2008; ratings: B1 (Moody's), double-B (S&P).

Wachovia Corp. -- $2.5 billion of 5.75% senior holdco bonds were priced through sole lead WB, according to a person familiar with the deal. Terms: maturity: February 2018; coupon: 5.75%; price: 99.572; yield: 5.807%; spread: 223 basis points more than Treasurys; settlement: Jan. 31, 2008; ratings: Aa3 (Moody's), double-A (S&P).

GLOBAL

Dexia Municipal Agency -- 2 billion euros covered bond issue was priced through lead managers ABN Amro, Deutsche Bank and Societe Generale, one of the lead managers said. Terms: maturity: June 5, 2013; coupon: 4.125%; reoffer: 99.877%; payment: Feb. 5, 2008; spread: 49.3 basis points more than July 2013 bundisobligation; ratings: Aaa (Moody's), triple-A (S&P), AAA (Fitch Inc.); denominations: 1,000 euros; listing: Luxembourg.

European Investment Bank -- 25 billion yen increase of Sept. 21, 2011, global floating-rate notes was priced, bringing the total issue size to 125 billion yen, lead manager Merrill Lynch said. Terms: maturity: Sept. 21, 2011; coupon: 21.5 basis points below three-month Japanese yen Libor; price: 100.12; reoffer: 100.12; payment: Feb. 5, 2008, plus 46 days accrued interest; ratings: Aaa (Moody's), triple-A (S&P), AAA (Fitch); denominations: one million yen and increments of 100,000 yen thereafter; listing: Luxembourg; interest: quarterly.

Goldman Sachs -- 2 billion euros in a self-led bond offering due 2013 was priced, the bank said. Terms: maturity: Feb. 15, 2013; coupon: 5.375%; reoffer: 99.919; payment: Feb. 6, 2008; spread: 130 basis points more than midswaps; ratings: Aa3 (Moody's), double-A (S&P) listing: Luxembourg.

KfW -- 2 billion euros, 2010-dated bond was priced, lead managers BNP Paribas, Dresdner Kleinwort and Goldman Sachs said. Terms: maturity: Feb. 5, 2010; coupon: 3.75%; reoffer: 99.956; payment: Feb. 5, 2008; spread: 24 basis points below midswaps; ratings: Aaa (Moody's), triple-A (S&P), AAA (Fitch).

Slovenia -- 1 billion euros, 11-year bond offering was priced through joint-lead managers ABN Amro, BNP Paribas and Nova Ljubljanska Banka, a lead manager said. Terms: maturity: Feb. 6, 2019; coupon: 4.375%; reoffer: 99.529; payment: Feb. 6, 2008; spread: three basis points below midswaps; ratings: Aa2 (Moody's), double-A (S&P), AA (Fitch).