By Cristal Cody
Chicago, May 14 – Security Benefit Global Funding sold $500 million of 1.25% three-year funding agreement-backed notes (A-) on Friday, according to a market source.
The notes are being issued by Security Benefit Life Insurance Co.
The notes priced with a Treasuries plus 95 basis points spread, low to the Treasuries plus 125 bps area initial price talk.
The issue was upsized from $300 million.
RBC Capital Markets LLC is the bookrunner for the Rule 144A notes.
Security Benefit is a retirement solutions provider in Topeka, Kan.
Issuer: | Security Benefit Life Insurance Co.
|
Issue: | Funding-agreement backed notes
|
Amount: | $500 million
|
Maturity: | May 17, 2024
|
Bookrunner: | RBC Capital Markets LLC
|
Coupon: | 1.25%
|
Spread: | Treasuries plus 95 bps
|
Trade date: | May 14
|
Rating: | S&P: A-
|
Distribution: | Rule 144A
|
Price talk: | Treasuries plus 125 bps area
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.