By Cristal Cody
Chicago, July 14 – MassMutual Global Funding II sold $600 million of 1.2% senior secured funding-agreement backed notes with a five-year tenor on Tuesday, a market source reported.
The notes priced with a spread of 40 basis points over Treasuries. The notes had been talked for a spread in the Treasuries plus 55 bps area.
Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Mizuho Securities USA Inc. were the bookrunners for the Rule 144A and Regulation S issue.
The issuer is a unit of Massachusetts Mutual Life Insurance Co. based in Springfield, Mass.
| Issuer: | MassMutual Global Funding II
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| Issue: | Funding-agreement backed notes
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| Amount: | $600 million
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| Maturity: | July 16, 2026
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| Bookrunners: | Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Mizuho Securities USA Inc.
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| Coupon: | 1.2%
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| Spread: | Treasuries plus 40 bps
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| Trade date: | July 13
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| Distribution: | Rule 144A and Regulation S
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| Price talk: | Treasuries plus 55 bps area
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