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New Issue- ERAC sells $1 bln in 3 parts

Thursday, 11 Oct 2012 | 11:16 AM ET

Oct 11 (Reuters) - ERAC USA Finance LLC sold $1 billion of notes in three parts in the 144a private placement market On Wednesday, said IFR, a Thomson Reuters service.

The notes are guaranteed by Enterprise Holdings Inc.

Bank of America Merrill Lynch, Goldman Sachs and Wells Fargo were the joint active bookrunning managers for the sale.

BORROWER: ERAC TRANCHE 1 AMT $250 MLN COUPON 1.4 PCT MATURITY 04/15/2016 TYPE NTS ISS PRICE 99.84 FIRST PAY 04/15/2013 MOODY'S Baa1 YIELD 1.447 PCT SETTLEMENT 10/15/2012 S&P BBB-PLUS SPREAD 110 BPS PAY FREQ SEMI-ANNUAL FITCH N/A MORE THAN TREAS MAKE-WHOLE CALL 20 BPS TRANCHE 2 AMT $500 MLN COUPON 3.3 PCT MATURITY 10/15/2022 TYPE NTS ISS PRICE 99.688 FIRST PAY 04/15/2013 MOODY'S Baa1 YIELD 3.337 PCT SETTLEMENT 10/15/2012 S&P BBB-PLUS SPREAD 165 BPS PAY FREQ SEMI-ANNUAL FITCH N/A MORE THAN TREAS MAKE-WHOLE CALL 25 BPS

TRANCHE 3 (REOPENING) AMT $250 MLN COUPON 5.625 PCT MATURITY 03/15/2042 TYPE NTS ISS PRICE 107.597 FIRST PAY 03/15/2013 MOODY'S Baa1 YIELD 5.122 PCT SETTLEMENT 10/15/2012 S&P BBB-PLUS SPREAD 225 BPS PAY FREQ SEMI-ANNUAL FITCH N/A MORE THAN TREAS MAKE-WHOLE CALL 40 BPS

((New Issue by Thomson Reuters)(+1-646-223-6886 e-mail: uscorpbonds@reuters.com))

Keywords: ERAC NOTES/

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