By Mary-Katherine Stinson and Cristal Cody
Lexington, Ky., April 5 – Brighthouse Financial Global Funding priced a $600 million offering of 5.55% funding agreement-backed notes due April 9, 2027 with a spread of 105 basis points over Treasuries, according to a market source.
Price talk was in the Treasuries plus 125 bps area.
A planned floating-rate tranche of notes was dropped from the deal.
BNP Paribas Securities Corp., Citigroup Global Markets Inc. Deutsche Bank and J.P. Morgan Securities LLC are the bookrunners.
Brighthouse is a Charlotte, N.C.-based insurance provider.
| Issuer: | Brighthouse Financial Global Funding
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| Amount: | $600 million
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| Issue: | Funding agreement-backed notes
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| Maturity: | April 9, 2027
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| Bookrunners: | BNP Paribas Securities Corp., Citigroup Global Markets Inc. Deutsche Bank and J.P. Morgan Securities LLC
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| Coupon: | 5.55%
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| Spread: | Treasuries plus 105 bps
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| Price talk: | Treasuries plus 125 bps area
|
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