March 8, 2011 / 10:10 PM / 8 years ago

New Issue-Best Buy sells $1 bln notes in two parts

 March 8 (Reuters) - Best Buy  Co Inc (BBY.N) on Tuesday sold $1 billion of senior unsecured notes in two parts, said IFR, a Thomson Reuters service.
 Bank of America Merrill Lynch, Credit Suisse, JP Morgan and UBS were the joint bookrunning managers for the sale. BORROWER: BEST BUY CO INC TRANCHE 1                                                 AMT $350 MLN      COUPON 3.75 PCT     MATURITY 3/15/2016  TYPE SR NTS       ISS PRICE 99.606    FIRST PAY 9/15/2011 MOODY’S Baa2      YIELD 3.837 PCT     SETTLEMENT 3/11/2011 S&P BBB-MINUS     SPREAD 162.5 BPS    PAY FREQ SEMI-ANNUAL FITCH BBB-PLUS     MORE THAN TREAS    MAKE-WHOLE CALL 25 BPS TRANCHE 2                                                 AMT $650 MLN      COUPON 5.50 PCT     MATURITY 3/15/2021  TYPE SR NTS       ISS PRICE 99.695    FIRST PAY 9/15/2011 MOODY’S Baa2      YIELD 5.54 PCT      SETTLEMENT 3/11/2011 S&P BBB-MINUS     SPREAD 200 BPS      PAY FREQ SEMI-ANNUAL FITCH BBB-PLUS     MORE THAN TREAS    MAKE-WHOLE CALL 30 BPS   

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