Caterpillar said to plan 50-year debt as part of $2B sale

|About: Caterpillar Inc. (CAT)|By:, SA News Editor

Caterpillar (CAT) reportedly is planning to sell $2B of notes including the first 50-year bonds offered in the U.S. in nearly a year, with the $500M of debt due 2064 said to price to yield 137.5 bps more than Treasurys.

The bonds apparently were added to the offering, which includes $1B of 10-year notes and $500M of 30-year securities, after it was marketed earlier today.

In addition, the 2024 bonds may price to yield 80 bps more than similar maturity government debt and the 2044 securities may pay a 95 bps spread.