By Aleesia Forni
Virginia Beach, Feb. 19 – Bank of New York Mellon Corp. priced $2 billion of senior notes (A1/A+/AA-) in tranches due 2020 and 2025 on Thursday, a market source said.
There was $1.25 billion of 2.15% notes due 2020 priced at 62 basis points over Treasuries.
Pricing was at 99.844 to yield 2.183%.
A second tranche was $750 million of 3% notes due 2025 priced at 99.786 to yield 3.025%, or 92 bps over Treasuries.
Both tranches sold at the tight end of price talk.
BNY Mellon, Citigroup Global Markets Inc., Goldman Sachs & Co. and UBS Securities LLC were the bookrunners.
BNY Mellon is a New York-based financial services company.
| Issuer: | Bank of New York Mellon Corp.
|
| Issue: | Senior notes
|
| Amount: | $2 billion
|
| Bookrunners: | BNY Mellon, Citigroup Global Markets Inc., Goldman Sachs & Co., UBS Securities LLC
|
| Trade date: | Feb. 19
|
| Settlement date: | Feb. 24
|
| Ratings: | Moody’s: A1
|
| Standard & Poor’s: A+
|
| Fitch: AA-
|
| Distribution: | SEC-registered
|
|
|
| Five-year notes
|
| Amount: | $1.25 billion
|
| Maturity: | Feb. 24, 2020
|
| Coupon: | 2.15%
|
| Price: | 99.844
|
| Yield: | 2.183%
|
| Spread: | 62 bps
|
| Price talk: | 62 bps to 65 bps, mid-70 bps area
|
|
|
| 10-year notes
|
| Amount: | $750 million
|
| Maturity: | Feb. 24, 2025
|
| Coupon: | 3%
|
| Price: | 99.786
|
| Yield: | 3.025%
|
| Spread: | 92 bps
|
| Price talk: | 92 bps to 95 bps, low-100 bps area
|
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