By Cristal Cody
Tupelo, Miss., March 19 – Macquarie Group Ltd. priced $1.75 billion of senior notes (A3/BBB/A-) in three tranches on Monday, according to a market source.
The company sold $550 million of six-year floating-rate notes at Libor plus 135 basis points, on the tight side of price guidance in the Libor plus 135 bps area, plus or minus 5 bps.
Macquarie priced $700 million of 4.15% six-year notes at a spread of Treasuries plus 150 bps. The notes were talked to price in the Treasuries plus 150 bps area, plus or minus 5 bps.
In the final tranche, the company sold $500 million of 4.654% 11-year notes on top of guidance at a spread of 180 bps over Treasuries.
BofA Merrill Lynch, Citigroup Global Markets Inc., HSBC Securities (USA) LLC, J.P. Morgan Securities LLC and Macquarie Group were the bookrunners.
Macquarie Group is a Sydney, Australia-based financial services company.
| Issuer: | Macquarie Group Ltd.
|
| Amount: | $1.75 billion
|
| Description: | Senior notes
|
| Bookrunners: | BofA Merrill Lynch, Citigroup Global Markets Inc., HSBC Securities (USA) LLC, J.P. Morgan Securities LLC and and Macquarie Group
|
| Trade date: | March 19
|
| Ratings: | Moody’s: A3
|
| S&P: BBB
|
| Fitch: A-
|
|
|
| Six-year floaters
|
| Amount: | $550 million
|
| Maturity: | March 27, 2024
|
| Coupon: | Libor plus 135 bps
|
| Price talk: | Libor plus 135 bps area, plus or minus 5 bps
|
|
|
| Six-year notes
|
| Amount: | $700 million
|
| Maturity: | March 27, 2024
|
| Coupon: | 4.15%
|
| Spread: | Treasuries plus 150 bps
|
| Price talk: | Treasuries plus 150 bps area, plus or minus 5 bps
|
|
|
| 11-year notes
|
| Amount: | $500 million
|
| Maturity: | March 27, 2029
|
| Coupon: | 4.654%
|
| Spread: | Treasuries plus 180 bps
|
| Price talk: | Treasuries plus 180 bps area
|
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