BAE Systems Holding $1.5 billion high yield notes issue

14/12/2015

High-yield bond/note issue

Value:

$ 1.5 billion

Status:

Completed

Date:

14/12/2015

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

Jurisdictions:

United States
United Kingdom

Deal type:

High-yield bond/note issue

Practice area:

Capital markets : Debt

Industry sector:

Aviation

Firms:

Cravath Swaine & Moore

Party: BAE Systems (Issuer)

Lawyer: Alyssa Caples

Milbank

Party: Citigroup (Initial purchaser)

Party: JPMorgan Chase (Initial purchaser)

Party: Merrill Lynch Pierce Fenner & Smith (Initial purchaser)

Lawyer: Tim Peterson

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