Sobeys sells C$1 bln in two parts - term sheet

Tue Jul 30, 2013 1:07pm EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

July 30 (Reuters) - Sobeys Inc on Tuesday sold C$1 billion ($970 million) in a two-part private placement, according to a term sheet seen by Reuters.

The issue included C$500 million ($485 million) of five-year senior unsecured notes due Aug. 8, 2018. The notes have a coupon rate of 3.52 percent and were priced at 99.959 to yield 3.529 percent or 172 basis points over the Canadian government benchmark.

Sobeys also issued C$500 million ($485 million) of 10-year senior unsecured notes due Aug. 8, 2023. The notes have a coupon rate of 4.70 percent and were priced at par to yield 219.3 basis points over the Canadian government benchmark.

The investment dealer arm of Bank of Nova Scotia was the bookrunning manager of the placement.