Flex Ltd (FLEX) 2020-1

USD425.0005Feb-26Sr. UnsecuredBaa3BBB--FixedTsyT+350 a-3503.75%2599.61700
USD325.00010May-30Sr. UnsecuredBaa3BBB--FixedTsyT+425 a-4254.88%2099.56200
Tranche Comments
5 yr: Book size: 500; First Pay: 2020-08-01; Registration: Registered; Comments: US$425m 3.75% cpn 5-year(2/1/26) at 99.617, yld 3.826%. Spread: T+350bp. MWC T+50bp. CoC: 101%.; 10 yr: Book size: 400; First Pay: 2020-11-12; Registration: Registered; Comments: US$325m 4.875% cpn 10-year(5/12/30) at 99.562, yld 4.931%. Spread: T+425bp. MWC T+50bp. CoC: 101%.;
Deal Comments
Active Bookrunners: BAM (B&D) (5yr), CIT (B&D) (10yr), JPM. Passive Bookrunners: BNP, HSB, MIZ, MUF, SCO, SMB, UNI, USB.
Use of Proceeds
Repay bank debt for working capital, capital expenditures, acquisitions and general corporate purposes

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