New Issue-Eastman Chemical sells $2.4 bln 3-pt notes

Tue May 29, 2012 5:22pm EDT

May 29 (Reuters) - Eastman Chemical Co on Tuesday
sold $2.4 billion of notes in three parts, said IFR, a Thomson
Reuters service. 	
    Barclays Capital, Citigroup, and JP Morgan were the joint
bookrunning managers for the sale.	
	
BORROWER: EASTMAN CHEMICAL 	
	
TRANCHE 1	
AMT $1 BLN      COUPON 2.4 PCT     MATURITY    06/01/2017 	
TYPE NTS        ISS PRICE 99.664   FIRST PAY   12/01/2012	
MOODY'S Baa2    YIELD 2.472 PCT    SETTLEMENT  06/05/2012	
S&P TRIPLE-B    SPREAD 170 BPS     PAY FREQ    SEMI-ANNUAL	
FITCH TRIPLE-B   MORE THAN TREAS   MAKE-WHOLE CALL 25 BPS	
    	
TRANCHE 2	
AMT $900 MLN    COUPON 3.6 PCT     MATURITY    08/15/2022	
TYPE NTS        ISS PRICE 99.224   FIRST PAY   02/15/2013	
MOODY'S Baa2    YIELD 3.691 PCT    SETTLEMENT  06/05/2012	
S&P TRIPLE-B    SPREAD 195 BPS     PAY FREQ    SEMI-ANNUAL	
FITCH TRIPLE-B   MORE THAN TREAS   MAKE-WHOLE CALL 30 BPS	
    	
TRANCHE 3	
AMT $500 MLN    COUPON 4.8 PCT     MATURITY    09/01/2042	
TYPE NTS        ISS PRICE 99.270   FIRST PAY   03/01/2013	
MOODY'S Baa2    YIELD 4.845 PCT    SETTLEMENT  06/05/2012	
S&P TRIPLE-B    SPREAD 200 BPS     PAY FREQ    SEMI-ANNUAL	
FITCH TRIPLE-B   MORE THAN TREAS   MAKE-WHOLE CALL 30 BPS