Lorillard (LO) Prices $500M Senior Debt Offering
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Price: $44.92 +0.79%
Overall Analyst Rating:
NEUTRAL (
Up)
Dividend Yield: 5.2%
EPS Growth %: -62.1%
Overall Analyst Rating:
NEUTRAL (
Up)Dividend Yield: 5.2%
EPS Growth %: -62.1%
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Lorillard, Inc. (NYSE: LO), has priced an underwritten public offering of an aggregate principal amount of $500 million 2.300% senior notes due 2017 through its main operating subsidiary, Lorillard Tobacco Company, and guaranteed by Lorillard, Inc.
Lorillard, Inc. expects to close the sale of the notes on August 21, 2012, subject to customary closing conditions. The net proceeds from the offering will be used for general corporate purposes, which may include, among other things, the repurchase, redemption or retirement of securities including its common stock, acquisitions, additions to working capital and capital expenditures.
BarclaysCapital Inc., J.P. Morgan Securities LLC, RBS Securities Inc., Fifth Third Securities, Inc., Goldman, Sachs & Co. and Wells Fargo Securities, LLC are acting as joint book-running managers.
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Lorillard, Inc. expects to close the sale of the notes on August 21, 2012, subject to customary closing conditions. The net proceeds from the offering will be used for general corporate purposes, which may include, among other things, the repurchase, redemption or retirement of securities including its common stock, acquisitions, additions to working capital and capital expenditures.
BarclaysCapital Inc., J.P. Morgan Securities LLC, RBS Securities Inc., Fifth Third Securities, Inc., Goldman, Sachs & Co. and Wells Fargo Securities, LLC are acting as joint book-running managers.
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