New Issue-Precision Castparts selss $3 bln in 4 parts

Mon Dec 17, 2012 5:26pm EST

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Precision Castparts Corp on Monday sold $3 billion of
senior unsecured notes in four parts, said IFR, a Thomson
Reuters service.
    Bank of America Merrill Lynch, Citigroup, and Wells Fargo
were the joint bookrunning managers for the sale.

BORROWER: PRECISION CASTPARTS CORP

TRANCHE 1
AMT $500 MLN     COUPON 0.7 PCT        MATURITY 12/20/2015
TYPE SR NTS      ISS PRICE 99.97       FIRST PAY 06/20/2013
MOODY'S A2       YIELD 0.71 PCT        SETTLEMENT 12/20/2012
S&P A-MINUS      SPREAD 35 BPS         PAY FREQ SEMI-ANNUAL
FITCH N/A         MORE THAN TREAS      MAKE-WHOLE CALL 5BPS

TRANCHE 2
AMT $1 BLN       COUPON 1.25 PCT       MATURITY 01/15/2018
TYPE SR NTS      ISS PRICE 99.848      FIRST PAY 07/15/2013
MOODY'S A2       YIELD 1.281 PCT       SETTLEMENT 12/20/2012
S&P A-MINUS      SPREAD 55 BPS         PAY FREQ SEMI-ANNUAL
FITCH N/A         MORE THAN TREAS      MAKE-WHOLE CALL 10BPS

TRANCHE 3
AMT $1 BLN       COUPON 2.5 PCT        MATURITY 01/15/2023
TYPE SR NTS      ISS PRICE 99.425      FIRST PAY 07/15/2013
MOODY'S A2       YIELD 2.565 PCT       SETTLEMENT 12/20/2012
S&P A-MINUS      SPREAD 80 BPS         PAY FREQ SEMI-ANNUAL
FITCH N/A         MORE THAN TREAS       MAKE-WHOLE CALL 15BPS

TRANCHE 4
AMT $500 MLN     COUPON 3.9 PCT        MATURITY 01/15/2043
TYPE SR NTS      ISS PRICE 99.383      FIRST PAY 07/15/2013
MOODY'S A2       YIELD 3.935 PCT       SETTLEMENT 12/20/2012
S&P A-MINUS      SPREAD 100 BPS        PAY FREQ SEMI-ANNUAL
FITCH N/A         MORE THAN TREAS       MAKE-WHOLE CALL 15BPS
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