Rolls-Royce has successfully priced its debut US dollar-denominated 144A/Reg S bond and raised gross proceeds of approximately $1.5bn. The transaction consists of $500 million aggregate principal amount of 2.375% notes due 2020, priced at T+105 basis points (bps) and $1bn aggregate principal amount of 3.625% notes due 2025 at T+160bps.  Bank of America Merrill Lynch, Citi, Goldman Sachs and JPMorgan are joint bookrunners. The issuance was substantially oversubscribed, with particular interest for the ten-year notes, which are trading at 10 bps tighter in the secondary market today. We had a $9bn orderbook, and we compressed the pricing significantly from T+187.5bps

This content is restricted to site members.

If you are an existing user, please login below.
New users may register below.

Existing Users Log In
   
Forgot password? Click here to reset
New User? Click here to register