By Serena Ruffoni
Dutch brewing company Heineken NV (HEIA.AE) has dropped plans to
issue a 13-year euro-denominated bond and is planning just to price
an eight-year one, said one of the banks on the deal Tuesday.
The original plan was to issue both. Both bonds were planned to
be of not more than 500 million euros ($648 million) in size.
The EUR500 million eight-year bond will be issued at a final
price of 65 basis points over the midswap reference rate.
Earlier Tuesday, pricing indications were 65 to 70 basis points
over the midswap rate for the eight-year tranche, and 90 to 95
basis points over the midswaps rate.
The pricing of the eight-year tranche, which has been confirmed
at the low end of what was initially indicated, highlights that the
shorter-dated bond attracted more interest from investors than the
longer-dated one.
Deutsche Bank, HSBC, Rabobank and Societe Generale are the main
bookrunners of the sale.
The issuer is rated Baa1 by Moody's Investors Service and BBB+
by Standard & Poor's.
Write to Serena Ruffoni at serena.ruffoni@dowjones.com