By Aleesia Forni
Virginia Beach, Aug. 17 – Abbey National Treasury Services plc was in Monday’s market selling a $1 billion offering of three-year notes (A2/A/A) in two tranches, according to an informed source.
Included in the offering was a $750 million 2% note due 2018 sold at 99.708 to yield 2.101%, or Treasuries plus 105 basis points.
The notes were talked in the Treasuries plus 110 bps area.
Also, $250 million of floating-rate notes due 2018 priced at par to yield Libor plus 85 bps.
Guidance was at the Libor equivalent to the three-year fixed-rate notes.
BofA Merrill Lynch, Goldman Sachs & Co., Santander and Wells Fargo Securities LLC are the bookrunners.
The notes are guaranteed by Santander UK plc.
Proceeds from the sale will be used for general corporate purposes.
The financial services companies are based in London.
| Issuer: | Abbey National Treasury Services plc
|
| Guarantor: | Santander UK plc
|
| Issue: | Senior bank notes
|
| Amount: | $1 billion
|
| Bookrunners: | BofA Merrill Lynch, Goldman Sachs & Co., Santander and Wells Fargo Securities LLC
|
| Trade date: | Aug. 17
|
| Settlement date: | Aug. 24
|
| Ratings: | Moody’s: A2
|
| Standard & Poor’s: A
|
| Fitch: A
|
| Distribution: | SEC registered
|
|
|
| Three-year notes
|
| Amount: | $750 million
|
| Maturity: | Aug. 24, 2018
|
| Coupon: | 2%
|
| Price: | 99.708
|
| Yield: | 2.101%
|
| Spread: | Treasuries plus 105 bps
|
| Price talk: | Treasuries plus 110 bps area
|
|
|
| Three-year floaters
|
| Amount: | $250 million
|
| Maturity: | Aug. 24, 2018
|
| Coupon: | Libor plus 85 bps
|
| Price: | Par
|
| Yield: | Libor plus 85 bps
|
| Price guidance: | Libor equivalent to fixed-rate notes
|
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