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Guarantor: Sara Lee Corp
Rating: BBB
Amount: Eu300m
Maturity: 30 March 2012
Issue/re-offer price: 99.855
Coupon: 2.25%
Spread at re-offer: 83bp over mid-swaps
Launched: Thursday 18 March
Payment date: 30 March
Joint books: Bank of America Merrill Lynch, Rabobank
Bookrunners' comment:
This was a great little deal for Sara Lee, which was issued to the company subsidiary based in the Dutch Antilles. The issuer hasn't been in the market since 2004, and they're a rare name...