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Blake
| Posted on Friday, November 20, 2009 - 04:08 pm: |
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http://www.reuters.com/article/companyNews/idUKN20 22497920091120?symbol=HOG.N
Nov 20 (Reuters) - Harley Davidson Funding Corp (HOG.N) late on Thursday sold $500 million of senior unsecured notes in the 144a private placement market, said IFR, a Thomson Reuters service. BNP Paribas, Citi, JP Morgan, and RBS were the joint bookrunning managers for the sale. BORROWER: HARLEY-DAVIDSON AMT $500 MLN COUPON 5.75 PCT MATURITY 12/15/2014 TYPE SR UNSC NTS ISS PRICE 99.839 FIRST PAY 6/15/2010 MOODY'S Baa1 YIELD 5.786 PCT SETTLEMENT 11/24/2009 S&P TRIPLE-B SPREAD 362.5 BPS PAY FREQ SEMI-ANNUAL FITCH BBB-PLUS MORE THAN TREAS MAKE-WHOLE CALL 50 BPS Twenty of more percent of which is apparently to cover the cost of killing Buell Motorcycle Company. |
Lemonchili_x1
| Posted on Saturday, November 21, 2009 - 10:30 am: |
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Ratings on the release: http://www.foxbusiness.com/story/markets/industrie s/entertainment/fitch-rates-harley-davidson-fundin g-corps-new-notes-bbb/ Excerpt: "CHICAGO, Nov 19, 2009 (BUSINESS WIRE) ----Fitch Ratings has assigned a rating of 'BBB+' to the $500 million (with potential of upsizing) in new senior unsecured notes due 2014 issued by Harley-Davidson Funding Corp. (HDFC), a fully guaranteed subsidiary of Harley-Davidson Financial Services, Inc. (HDFS). The Issuer Default Rating (IDR) for HDFS and ultimate parent Harley-Davidson Inc. (HOG) is 'BBB+', and the Rating Outlook is Negative." The bit I still don't understand is H-D has so much cash now, approx $1.5billion. It was in the 10-Q report too. What is this for? |
Blake
| Posted on Saturday, November 21, 2009 - 12:36 pm: |
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Apparently they are intending to spend more and want to maintain a certain amount of cash on hand. |
Davegess
| Posted on Saturday, November 21, 2009 - 04:53 pm: |
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4th quarter is always a very poor cash quarter for them so thye will burn though some case. Also I suspect they are looking at 2010 and thinking that bike sales will not see much if any of a rebound so they will be very tight. Could also be doing a Ford; borrow it while you can, if you wait until you are really losing no one will touch you. |
Mmmi_grad
| Posted on Saturday, November 21, 2009 - 06:12 pm: |
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I hope they choke on it! |
Conchop
| Posted on Saturday, November 21, 2009 - 09:53 pm: |
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Buy from American workers. Not the imported "licensed" labeled stuff. The management team is obviously unqualified. But the American worker needs to prosper. Spend your money wisely. |
Ebutch
| Posted on Saturday, November 21, 2009 - 10:08 pm: |
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Yes this is the age of RainBows.Rainbow Power!!!!
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