New Issue-Watson Pharma sells $3.9 bln notes in 3 parts

Thu Sep 27, 2012 5:47pm EDT

Sept 27 (Reuters) - Watson Pharmaceuticals Inc on
Thursday sold $3.9 billion of senior notes in three parts, said
IFR, a Thomson Reuters service. 
    Barclays, Bank of America Merrill Lynch, JP Morgan, and
Wells Fargo were the active joint bookrunning managers for the
sale.

BORROWER: WATSON PHARMACEUTICALS INC 

TRANCHE 1
AMT $1.2 BLN    COUPON 1.875 PCT   MATURITY    10/01/2017
TYPE SR NTS     ISS PRICE 99.541   FIRST PAY   04/01/2013
MOODY'S Baa3    YIELD 1.972 PCT    SETTLEMENT  10/02/2012   
S&P TRIPLE-B    SPREAD 135 BPS     PAY FREQ    SEMI-ANNUAL
FITCH TRIPLE-B   MORE THAN TREAS   MAKE-WHOLE CALL 20 BPS
    
TRANCHE 2
AMT $1.7 BLN    COUPON 3.25 PCT    MATURITY    10/01/2022
TYPE SR NTS     ISS PRICE 99.165   FIRST PAY   04/01/2013
MOODY'S Baa3    YIELD 3.349 PCT    SETTLEMENT  10/02/2012   
S&P TRIPLE-B    SPREAD 170 BPS     PAY FREQ    SEMI-ANNUAL
FITCH TRIPLE-B   MORE THAN TREAS   MAKE-WHOLE CALL 25 BPS
    
TRANCHE 3
AMT $1 BLN      COUPON 4.625 PCT   MATURITY    10/01/2042
TYPE SR NTS     ISS PRICE 98.516   FIRST PAY   04/01/2013
MOODY'S Baa3    YIELD 4.718 PCT    SETTLEMENT  10/02/2012   
S&P TRIPLE-B    SPREAD 190 BPS     PAY FREQ    SEMI-ANNUAL
FITCH TRIPLE-B   MORE THAN TREAS   MAKE-WHOLE CALL 30 BPS
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