Caterpillar Financial Services Launches $3 Billion Three-Part Bond -Source
February 05 2009 - 2:56PM
Dow Jones News
Caterpillar Financial Services will sell $3 billion in new bonds
later Thursday, according to a person familiar with the deal.
The company is offering the bonds in three parts, which mature
in three, five and 10 years. The three-year portion of the deal
totals $350 million and launched at a spread of 437.5 basis points
over comparable Treasury yields. The $1.5 billion five-year tranche
and the $1 billion 10-year bonds both launched at a spread of 425
basis points, the person said. The pricing on all three tranches is
in line with initial price guidance.
Citigroup (C), Barclays Capital and Goldman Sachs (GS) are
expected to price the bonds for the manufacturer of construction
and mining equipment later Thursday.
-By Kate Haywood, Dow Jones Newswires; 201-938-2348;
kate.haywood@dowjones.com