McDonald’s Said to Plan $500 Million Sale of 30-Year Securities
McDonald’s Corp. (MCD), the world’s largest restaurant chain by sales, plans to raise $500 million with a sale of 30-year bonds.
The company intends to issue the securities to fund general corporate purposes, according to a person familiar with the offering who asked not to be identified because terms aren’t set. McDonald’s debt is rated A2 by Moody’s Investors Service and an equivalent A at Standard & Poor’s.
The fast-food producer, based in Oak Brook, Illinois, last sold new 30-year debentures in February 2012, according to data compiled by Bloomberg. Its $500 million of 3.7 percent debt due February 2042 traded at 100.4 cents on the dollar April 25 to yield 3.68 percent, or 74.9 basis points more than similar- maturity Treasuries, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority.
To contact the editor responsible for this story: Alan Goldstein at email@example.com