By Cristal Cody
Chicago, Oct. 8 – Maple Grove Funding Trust I (NLV Financial Corp.) sold $750 million of 4.161% pre-capitalized trust securities due Aug. 15, 2051 (Baa1/BBB+) in the Thursday market, according to a source.
The notes priced with a spread of 205 basis points over Treasuries, 30 bps low to the 235 bps area spread talk.
Credit Suisse Securities (USA) LLC handled the sale.
National Life Group is the trade name for NLV Financial Corp. and its affiliates, an insurance organization based in Montpelier, Vt.
| Issuer: | Maple Grove Funding Trust I
|
| Issue: | Pre-capitalized trust securities
|
| Amount: | $750 million
|
| Maturity: | Aug. 15, 2051
|
| Bookrunner: | Credit Suisse Securities (USA) LLC
|
| Coupon: | 4.161%
|
| Spread: | Treasuries plus 205 bps
|
| Trade date: | Oct. 7
|
| Ratings: | Moody’s: Baa1
|
| S&P: BBB+
|
| Price talk: | Treasuries plus 235 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.
