By Devika Patel and Cristal Cody
Knoxville, Tenn., Jan. 11 – GA Global Funding Trust sold an upsized $650 million of 1.625% five-year notes on Friday at a spread of Treasuries plus 117 basis points, according to a market source.
The notes were initially talked to price in the Treasuries plus 145 bps area.
The Rule 144A and Regulation S deal was upsized from $400 million.
J.P. Morgan Securities LLC, RBC Capital Markets, LLC, U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC were the bookrunners.
The issuer is a special purpose statutory trust in Delaware.
| Issuer: | GA Global Funding Trust
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| Amount: | $650 million
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| Description: | Notes
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| Maturity: | Jan. 15, 2026
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| Bookrunners: | J.P. Morgan Securities LLC, RBC Capital Markets, LLC, U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC
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| Coupon: | 1.625%
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| Spread: | Treasuries plus 114 bps
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| Trade date: | Jan. 8
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| Distribution: | Rule 144A and Regulation S
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| Price talk: | Treasuries plus 145 bps area
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