Heineken revises pricing on two-part bond; seven-year bond revised from 90-95 basis points over midswaps to 80-85 basis points; 12-year, €500M bond revised from 130 basis points over midswaps to 120-125 basis points

Nevin Barich

LOS ANGELES , March 12, 2012 (Industry Intelligence) – Heineken N.V. has revised the pricing on its bench-mark-size, euro-denominated, two-part bond, with pricing on the seven-year bond being revised from 90-95 basis points over midswaps  —an initial price guidance — to 80-85 basis points, Dow Jones Newswires reported March 12.

Heineken revised pricing on the 12-year, €500 million (US$657M) bond from 130 basis points over midswaps — an initial price guidance — to 120-125 basis points over midswaps.

Although the seven-year bond was slightly favored, books on the two-part arrangement hit €8 million.

The lead managers of the deal are Credit Suisse Group, ING Groep N.V., HSBC Holdings PLC, Rabobank and BNP Paribas S.A.

Moody's Investor Service Inc. rated the issuer as Baa1, while Standard and Poor's gave the issuer a rating of BBB+.

The primary source of this article is Dow Jones Newswires, New York, New York, on March 12, 2012.

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