Allison Transmission today priced its upsized offering of eight-year notes at the tight end of talk, sources said. The notes were placed privately through a Citi-led deal, which included nine additional bookrunners. The transaction was originally planned to wrap on Thursday, but pricing was accelerated to this afternoon. The issuer will use the proceeds, along with cash, to pay down its $2.39 billion TLB due 2019. Terms:
|Maturity||Oct. 1, 2024|
|Call||nc3 (at par plus 50% of coupon)|
|Trade||Sept. 14, 2016|
|Settle||Sept. 23, 2016 (T+7)|
|Joint bookrunners||C/BARC/BAML/BMO/Fifth Third/JPM/SMBC/DB/GS/MUFG|
|Notes||Upsized from $500 million; 40% equity claw|
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