GA Global Funding Trust markets FA-backed notes in three parts

By Cristal Cody

Chicago, Sept. 7 – GA Global Funding Trust is marketing a three-part offering of notes backed by funding agreements on Tuesday, according to a market source.

The deal will have two series of notes due Sept. 13, 2024, one part floating and one part fixed. The floating-rate notes will be based on SOFR plus a spread. The fixed-rate notes are being talked with a spread in the Treasuries plus 70 basis points area.

A longer-dated tranche due Sept. 15, 2028 has talk in the Treasuries plus 110 bps area.

BofA Securities, Inc. Barclays, Credit Suisse Securities (USA) LLC, Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC and Scotia Capital (USA) Inc. are working as bookrunners.

The issuer is a special purpose statutory trust in Delaware.

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