By Andrea Heisinger
New York, March 26 - DNB ASA sold $2 billion of 3.2% five-year senior notes on Monday at a spread of 215 basis points over Treasuries, an informed source said.
The paper priced tighter than guidance in the 220 bps to 225 bps range, the source added.
The notes (Aa3/A+/) were sold at 99.913 to yield 3.219%. There is no call option.
Bookrunners were Bank of America Merrill Lynch, Barclays Capital Inc., Goldman Sachs & Co. and Morgan Stanley & Co. LLC.
The offering was done under Rule 144A and Regulation S.
The financial services group is based in Oslo.
| Issuer: | DNB ASA
|
| Issue: | Senior notes
|
| Amount: | $2 billion
|
| Maturity: | April 3, 2017
|
| Bookrunners: | Bank of America Merrill Lynch, Barclays Capital Inc., Goldman Sachs & Co., Morgan Stanley & Co. LLC
|
| Coupon: | 3.2%
|
| Price: | 99.913
|
| Yield: | 3.219%
|
| Spread: | Treasuries plus 215 bps
|
| Call: | Non-callable
|
| Distribution: | Rule 144A, Regulation S
|
| Trade date: | March 26
|
| Settlement date: | April 3
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: A+
|
| Price talk: | 220 bps to 225 bps
|
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