LeasePlan Posts Successful Debut of 144A
ALMERE, NETHERLANDS - LeasePlan Corporation N.V. successfully issued its debut transaction of its recently established US$5 billion MTN program (144A) in October 2012.
ALMERE, NETHERLANDS – LeasePlan Corporation N.V. successfully issued its debut transaction of its recently established US$5 billion MTN program (144A) in October 2012, printing US$500 million of five-year senior unsecured notes at US Treasuries +235bps. Having road showed for the past two weeks in the U.S., strong feedback allowed LeasePlan to announce a US$500 million (no grow) transaction with an initial price indication of U.S. Treasuries +250bps, according to the company.
A strong response saw the book grow to US$2.2 billion with over 140 investors and allowed LeasePlan to price the bond 15bps inside the initial indication at U.S. Treasuries +235bps; 89 percent of the bonds went to the U.S., with 74 percent coming from fund managers and 11 percent from Insurance.
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