By Cristal Cody
Tupelo, Miss., Jan. 21 – Bank of New York Mellon Corp. priced $1 billion of senior medium-term notes (A1/A/AA-) in new and reopened tranches on Tuesday, according to a market source.
A $750 million tranche of new 1.85% notes due Jan. 27, 2023 priced at a Treasuries plus 35 basis points spread.
The new issue was initially talked to print in the high Treasuries plus 40 bps area.
Bank of New York Mellon priced a $250 million tap of its 2.1% senior notes due Oct. 24, 2024 at a 43 bps over Treasuries spread.
The add-on was talked to price in the 55 bps spread area.
Bank of New York Mellon originally sold $750 million of the 2.1% notes on Oct. 17, 2019 at 99.825 to yield 2.137% and a Treasuries plus 57 bps spread. The total outstanding is now $1 billion.
Barclays, Morgan Stanley & Co. LLC, RBC Capital Markets, LLC and BNY Mellon Capital Markets LLC were the bookrunners.
Bank of New York Mellon is a financial products and services company based in New York.
| Issuer: | Bank of New York Mellon Corp.
|
| Amount: | $1 billion
|
| Securities: | Senior medium-term notes
|
| Bookrunners: | Barclays, Morgan Stanley & Co. LLC, RBC Capital Markets, LLC and BNY Mellon Capital Markets LLC
|
| Trade date: | Jan. 21
|
| Ratings: | Moody’s: A1
|
| S&P: A
|
| Fitch: AA-
|
| Distribution: | SEC registered
|
|
|
| Three-year notes
|
| Amount: | $750 million
|
| Maturity: | Jan. 27, 2023
|
| Coupon: | 1.85%
|
| Spread: | Treasuries plus 35 bps
|
| Price guidance: | Treasuries plus high 40 bps area
|
|
|
| Reopened notes
|
| Amount: | $250 million reopening
|
| Maturity: | Oct. 24, 2024
|
| Coupon: | 2.1%
|
| Spread: | Treasuries plus 43 bps
|
| Price guidance: | Treasuries plus 55 bps area
|
| Total outstanding: | $1 billion, including $750 million of notes priced Oct. 17, 2019 at 99.825 to yield 2.137% with a Treasuries plus 57 bps spread
|
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