Honda has sold a tranche of three-year, dollar-denominated bonds worth £830m to Wall Street investors. The company’s US funding unit American Honda Finance Corporation issued these floating-rate bonds to yield 37.5 basis points — 0.375 of a percentage point — more than the three-month London interbank offered rate (LIBOR).
Credit Suisse, Deutsche Bank and Mizuho Financial managed the sale. Honda, which had previously raised £500m through a one-year floating bond issuance flat to LIBOR a week earlier, says that proceeds will be used for unspecified corporate purposes.