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New Issue-Meccanica Holdings sells $800 mln in 2 parts

Wed Jul 8, 2009 6:22pm EDT

Stocks

    
 July 8 (Reuters) - Meccanica Holdings USA on Wednesday sold
$800 million in a two-part debt sale in the 144a private
placement market, said IFR, a Thomson Reuters service.
 The notes are guaranteed by Finmeccania SpA (SIFI.MI).
 Bank of America/Merrill Lynch, Citigroup, JP Morgan, and
Morgan Stanley were the active bookrunning managers for the
sale.
BORROWER: MECCANICA HOLDINGS USA INC*
FIRST TRANCHE:
AMT $500 MLN     COUPON 6.25 PCT     MATURITY 7/15/2019 
TYPE SR NOTES    ISS PRICE 99.224    FIRST PAY 1/15/2010
MOODY'S A3       YIELD 6.356 PCT     SETTLEMENT 7/15/2009
S&P BBB          SPREAD 305 BPS      PAY FREQ SEMI-ANNUAL
FITCH BBB         MORE THAN TREAS    MAKE-WHOLE CALL 45 BPS
SECOND TRANCHE:
AMT $300 MLN     COUPON 7.375 PCT    MATURITY 7/15/2039 
TYPE SR NOTES    ISS PRICE 98.728    FIRST PAY 1/15/2010
MOODY'S A3       YIELD 7.728 PCT     SETTLEMENT 7/15/2009
S&P BBB          SPREAD 330 BPS      PAY FREQ SEMI-ANNUAL
FITCH BBB         MORE THAN TREAS    MAKE-WHOLE CALL 50 BPS
* GUARANTEED BY FINMECCANICA SPA



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