Issuer: | PPG Industries, Inc. | ||||||||
Title of Securities: | $600,000,000 5.75% Notes due 2013 | $700,000,000 6.65% Notes due 2018 | $250,000,000 7.70% Notes due 2038 | ||||||
Long-term Debt Ratings: | Moodys: A3 (stable) / S&P: A- (negative) | ||||||||
Format: | SEC Registered (No. 333-145063) | ||||||||
Aggregate Principal Amount Offered: | $600,000,000 | $700,000,000 | $250,000,000 | ||||||
Trade Date: | March 13, 2008 | March 13, 2008 | March 13, 2008 | ||||||
Settlement Date (T+3): | March 18, 2008 | March 18, 2008 | March 18, 2008 | ||||||
Maturity Date: | March 15, 2013 | March 15, 2018 | March 15, 2038 | ||||||
Price to Public: | 99.949% | 99.950% | 99.433% | ||||||
Coupon: | 5.75% | 6.65% | 7.70% | ||||||
Yield to Maturity: | 5.762% | 6.657% | 7.749% | ||||||
Spread to Benchmark Treasury: | T + 325 bps | T + 312.5 bps | T + 330 bps | ||||||
Benchmark Treasury: | 2.75% UST due 2/13 | 3.50% UST due 2/18 | 5.00% UST due 5/37 | ||||||
Benchmark Treasury Yield: | 2.512% | 3.532% | 4.449% | ||||||
Gross Spread: | 0.60% | 0.65% | 0.875% | ||||||
Net Proceeds to the Issuer: | $596,094,000 | $695,100,000 | $246,395,000 | ||||||
Interest Payment Dates: | March 15 and September 15, commencing on September 15, 2008 |
March 15 and September 15, commencing on September 15, 2008 |
March 15 and September 15, commencing on September 15, 2008 |
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Make-Whole Call: | The greater of par or make-whole at Treasury Rate plus 50 bps | The greater of par or make-whole at Treasury Rate plus 50 bps | The greater of par or make-whole at Treasury Rate plus 50 bps | ||||||
CUSIP: | 693506BA4 | 693506BB2 | 693506BC0 | ||||||
Joint Book-Running Managers: | Credit Suisse
Securities (USA) LLC Deutsche Bank Securities Inc. J.P. Morgan Securities Inc. Morgan Stanley & Co. Incorporated |
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Senior Co-Manager: | Mitsubishi UFJ Securities International plc | ||||||||
Co-Managers: | Banca IMI S.p.A. BNP Paribas Securities Corp. BNY Capital Markets HSBC Bank plc PNC Capital Markets LLC Santander Investment Securities Inc. SG Americas Securities, LLC |