New Issue-Express Scripts sells $2.5 bln in 3 parts

Thu Jun 4, 2009 10:52pm BST
[-] Text [+]
 June 4 (Reuters) - Pharmacy benefit management company
Express Scripts, Inc (ESRX.O: Quote, Profile, Research) on Thursday sold $2.5 billion in
a three-part debt sale, said IFR, a Thomson Reuters service.
 Citigroup, Credit Suisse, and JP Morgan were the joint
bookrunning managers for the sale.
BORROWER: EXPRESS SCRIPTS INC
FIRST TRANCHE:
AMT $1.0 BLN      COUPON 5.25 PCT     MATURITY 6/15/2012 
TYPE SR NOTES     ISS PRICE 99.922    FIRST PAY 12/15/2009
MOODY'S N/A       YIELD 5.278 PCT     SETTLEMENT 6/9/2009
S&P BBB           SPREAD 375 BPS      PAY FREQ SEMI-ANNUAL
FITCH BBB          MORE THAN TREAS    COC PUT $101       
SECOND TRANCHE:
AMT $1.0 BLN      COUPON 6.25 PCT     MATURITY 6/15/2014 
TYPE SR NOTES     ISS PRICE 99.574    FIRST PAY 12/15/2009
MOODY'S N/A       YIELD 6.35 PCT      SETTLEMENT 6/9/2009
S&P BBB           SPREAD 375 BPS      PAY FREQ SEMI-ANNUAL
FITCH BBB          MORE THAN TREAS    COC PUT $101       
THIRD TRANCHE:
AMT $500 MLN      COUPON 7.25 PCT     MATURITY 6/15/2019 
TYPE SR NOTES     ISS PRICE 99.332    FIRST PAY 12/15/2009
MOODY'S N/A       YIELD 7.345 PCT     SETTLEMENT 6/9/2009
S&P BBB           SPREAD 362.5 BPS    PAY FREQ SEMI-ANNUAL
FITCH BBB          MORE THAN TREAS    COC PUT $101       


 
 
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