By Cristal Cody
Tupelo, Miss., June 11 – Santander UK plc priced $1 billion of 2.875% five-year senior notes (Aa3/A/A+) on Tuesday at a spread of 105 basis points over Treasuries, according to a market source.
The notes came on the tight side of guidance in the 110 bps spread area and better than initial talk in the 120 bps area.
BofA Securities Inc., J.P. Morgan Securities LLC, Santander Investment Securities Inc. and Wells Fargo Securities LLC were the bookrunners.
The notes are non-callable.
Proceeds will be used for general corporate purposes.
The financial services company is based in London.
| Issuer: | Santander UK plc
|
| Amount: | $1 billion
|
| Description: | Senior notes
|
| Maturity: | June 18, 2024
|
| Bookrunners: | BofA Securities Inc., J.P. Morgan Securities LLC, Santander Investment Securities Inc. and Wells Fargo Securities LLC
|
| Coupon: | 2.875%
|
| Spread: | Treasuries plus 105 bps
|
| Call feature: | None
|
| Trade date: | June 11
|
| Ratings: | Moody’s: Aa3
|
| S&P: A
|
| Fitch: A+
|
| Distribution: | SEC registered
|
| Price guidance: | Treasuries plus 110 bps area, plus or minus 5 bps; initial talk at Treasuries plus 120 bps area
|
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