BAE Systems Holding $1.5 billion high yield notes issue

Overview:

• BAE Systems Holding has undertaken a $1.5 billion offering of high-yield notes.
• The issue consists of three tranches: $500 million 2.850% notes due 2020, $750 million 3.850% notes due 2025, and $250 million 4.750% notes due 2044. The notes are guaranteed by BAE Systems.
• Citigroup Global Markets, JPMorgan Securities and Merrill Lynch acted as the initial purchasers.

Sam Duke - Editor