Cat Financial Sells Medium Term Notes at L+15BPS
According to a filing, Caterpillar Financial issued $300 million of medium term, floating rate notes at an interest rate spread of 15 basis points over the three-month LIBOR rate.
The notes, which have a maturity date of August 27, 2014, had an issue price of 100%. Net proceeds from the offering will be $299.7 million net of commissions of 0.10%.
Citigroup Global Markets was the sole manager and bookrunner for the issue.