Issuer: | Owens Corning | ||||
Expected Ratings (Moody’s / S&P / Fitch)*: | Baa1 / BBB / BBB | ||||
Security: | 5.500% Senior Notes due 2027 | ||||
Principal Amount: | $500,000,000 | ||||
Trade Date: | May 29, 2024 | ||||
Settlement Date: | May 31, 2024 (T+2) | ||||
Interest Payment Dates: | June 15 and December 15, commencing December 15, 2024 | ||||
Maturity Date: | June 15, 2027 | ||||
Coupon: | 5.500% | ||||
Public Offering Price: | 99.980% of the principal amount | ||||
Benchmark Treasury: | 4.500% due May 15, 2027 | ||||
Benchmark Treasury Price / Yield: | 99-05 1/4 / 4.806% |
Spread to Benchmark Treasury: | +70 basis points | ||||
Yield to Maturity: | 5.506% | ||||
Optional Redemption Provisions: | |||||
Make-Whole Call: | Prior to May 15, 2027 (one month prior to their maturity), greater of par and a make whole at the Treasury Rate plus 15 basis points, plus accrued and unpaid interest to, but not including, the date of redemption. | ||||
Par Call: | On or after May 15, 2027 (one month prior to their maturity), par plus accrued and unpaid interest to, but not including, the date of redemption. | ||||
CUSIP / ISIN: | 690742AN1 / US690742AN12 | ||||
Joint Book-Running Managers: | Morgan Stanley & Co. LLC BofA Securities, Inc. Citigroup Global Markets Inc. Wells Fargo Securities, LLC PNC Capital Markets LLC | ||||
Co-Managers: | Credit Agricole Securities (USA) Inc. Scotia Capital (USA) Inc. BNP Paribas Securities Corp. Fifth Third Securities, Inc. ING Financial Markets LLC HSBC Securities (USA) Inc. J.P. Morgan Securities LLC |
Issuer: | Owens Corning | ||||
Expected Ratings (Moody’s / S&P / Fitch)*: | Baa1 / BBB / BBB | ||||
Security: | 5.700% Senior Notes due 2034 | ||||
Principal Amount: | $800,000,000 |
Trade Date: | May 29, 2024 | ||||
Settlement Date: | May 31, 2024 (T+2) | ||||
Interest Payment Dates: | June 15 and December 15, commencing December 15, 2024 | ||||
Maturity Date: | June 15, 2034 | ||||
Coupon: | 5.700% | ||||
Public Offering Price: | 99.627% of the principal amount | ||||
Benchmark Treasury: | 4.375% due May 15, 2034 | ||||
Benchmark Treasury Price / Yield: | 98-01 / 4.624% | ||||
Spread to Benchmark Treasury: | +112.5 basis points | ||||
Yield to Maturity: | 5.749% | ||||
Optional Redemption Provisions: | |||||
Make-Whole Call: | Prior to March 15, 2034 (three months prior to their maturity), greater of par and a make whole at the Treasury Rate plus 20 basis points, plus accrued and unpaid interest to, but not including, the date of redemption. | ||||
Par Call: | On or after March 15, 2034 (three months prior to their maturity), par plus accrued and unpaid interest to, but not including, the date of redemption. | ||||
CUSIP / ISIN: | 690742AP6 / US690742AP69 |
Joint Book-Running Managers: | Morgan Stanley & Co. LLC BofA Securities, Inc. Citigroup Global Markets Inc. Wells Fargo Securities, LLC PNC Capital Markets LLC | ||||
Co-Managers: | Credit Agricole Securities (USA) Inc. Scotia Capital (USA) Inc. BNP Paribas Securities Corp. Fifth Third Securities, Inc. ING Financial Markets LLC HSBC Securities (USA) Inc. J.P. Morgan Securities LLC |
Issuer: | Owens Corning | ||||
Expected Ratings (Moody’s / S&P / Fitch)*: | Baa1 / BBB / BBB | ||||
Security: | 5.950% Senior Notes due 2054 | ||||
Principal Amount: | $700,000,000 | ||||
Trade Date: | May 29, 2024 | ||||
Settlement Date: | May 31, 2024 (T+2) | ||||
Interest Payment Dates: | June 15 and December 15, commencing December 15, 2024 | ||||
Maturity Date: | June 15, 2054 | ||||
Coupon: | 5.950% | ||||
Public Offering Price: | 98.674% of the principal amount | ||||
Benchmark Treasury: | 4.250% due February 15, 2054 | ||||
Benchmark Treasury Price / Yield: | 92-04+ / 4.746% | ||||
Spread to Benchmark Treasury: | +130 basis points | ||||
Yield to Maturity: | 6.046% | ||||
Optional Redemption Provisions: |
Make-Whole Call: | Prior to December 15, 2053 (six months prior to their maturity), greater of par and a make whole at the Treasury Rate plus 20 basis points, plus accrued and unpaid interest to, but not including, the date of redemption. | ||||
Par Call: | On or after December 15, 2053 (six months prior to their maturity), par plus accrued and unpaid interest to, but not including, the date of redemption. | ||||
CUSIP / ISIN: | 690742AQ4 / US690742AQ43 | ||||
Joint Book-Running Managers: | Morgan Stanley & Co. LLC BofA Securities, Inc. Citigroup Global Markets Inc. Wells Fargo Securities, LLC PNC Capital Markets LLC | ||||
Co-Managers: | Credit Agricole Securities (USA) Inc. Scotia Capital (USA) Inc. BNP Paribas Securities Corp. Fifth Third Securities, Inc. ING Financial Markets LLC HSBC Securities (USA) Inc. J.P. Morgan Securities LLC |