By Andrea Heisinger
New York, Jan. 25 - Bank of New York Mellon Corp. sold $1.2 billion of medium-term notes (Aa2/AA-/AA-) in three parts on Tuesday, an informed source said.
A $350 million tranche of three-year floating-rate notes priced at par to yield three-month Libor plus 28 basis points. The notes priced at the tight end of guidance in the Libor plus 30 bps area, plus or minus 2 bps.
The second tranche was $350 million of 1.5% three-year notes priced at 99.854 to yield 1.55% with a spread of 55 bps over Treasuries. These notes also priced at the tight end of talk, in this case for a spread in the 57 bps area plus or minus 2 bps.
A final part was $500 million of 4.15% 10-year notes priced at 99.83 to yield 4.171% with a spread of Treasuries plus 85 bps. These notes priced in the middle of guidance in the 85 bps area, plus or minus 2 bps.
Bookrunners were Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC.
BNY Mellon Capital Markets LLC, MFR Securities Inc., NAB Securities LLC, Toussaint Capital Partners LLC, UBS Securities LLC and Wells Fargo Securities LLC were co-managers.
The financial services company is based in New York City.
| Issuer: | Bank of New York Mellon Corp.
|
| Issue: | Medium-term notes
|
| Amount: | $1.2 billion
|
| Bookrunners: | Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC
|
| Co-managers: | BNY Mellon Capital Markets LLC, MFR Securities Inc., NAB Securities LLC, Toussaint Capital Partners LLC, UBS Securities LLC, Wells Fargo Securities LLC
|
| Trade date: | Jan. 25
|
| Settlement date: | Feb. 1
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA-
|
| Fitch: AA-
|
|
|
| Three-year floaters
|
| Amount: | $350 million
|
| Maturity: | Jan. 31, 2014
|
| Coupon: | Three-month Libor plus 28 bps
|
| Price: | Par
|
| Yield: | Three-month Libor plus 28 bps
|
| Call: | Non-callable
|
| Price talk: | Libor plus 30 bps area, plus or minus 2 bps
|
|
|
| Three-year notes
|
| Amount: | $350 million
|
| Maturity: | Jan. 31, 2014
|
| Coupon: | 1.55%
|
| Price: | 99.854
|
| Yield: | 1.55%
|
| Spread: | Treasuries plus 55bps
|
| Call: | Non-callable
|
| Price talk: | 57 bps, plus or minus 2 bps
|
|
|
| Ten-year notes
|
| Amount: | $500 million
|
| Maturity: | Feb. 1, 2021
|
| Coupon: | 4.15%
|
| Price: | 99.83
|
| Yield: | 4.171%
|
| Spread: | Treasuries plus 85 bps
|
| Call: | Non-callable
|
| Price talk: | 85 bps area, plus or minus 2 bps
|
© 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.
