New Issue-Lorillard Tobacco sells $750 mln in notes

Thu Jun 18, 2009 11:22pm BST
[-] Text [+]
  June 18 (Reuters) - Cigarette manufacturer Lorillard
Tobacco Co, a unit of Lorillard Inc (LO.N: Quote, Profile, Research), on Thursday sold
$750 million of 10-year notes, said IFR, a Thomson Reuters
service.
  Barclays and J.P. Morgan were the active bookrunners for
the sale. Goldman Sachs and Wachovia were the passive
bookrunners.
BORROWER: LORILLARD TOBACCO CO*
AMT $750 MLN      COUPON 8.125 PCT    MATURITY 6/23/2019 
TYPE NOTES        ISS PRICE 100       FIRST PAY 12/23/2009
MOODY'S Baa2      YIELD 8.125 PCT     SETTLEMENT 6/23/2009
S&P BBB-MINUS     SPREAD 428.9 BPS    PAY FREQ SEMI-ANNUAL
FITCH N/A          MORE THAN TREAS    COC PUT $101       
*GUARANTEED BY LORILLARD INC

 
 

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