By William Gullotti and Cristal Cody
Buffalo, N.Y., April 3 – MassMutual Global Funding II sold $1.2 billion of notes due April 9, 2027 in two parts on Tuesday, according to a market source.
MassMutual priced $350 million of floating-rate notes and $850 million of 5.1% notes.
The floaters priced with a coupon of SOFR plus 74 basis points.
The 5.1% notes priced at 60 bps over Treasuries, tight to initial talk in the Treasuries 80 bps area.
BofA Securities, Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and TD Securities (USA) LLC were the bookrunners.
The issuer is a unit of Massachusetts Mutual Life Insurance Co. based in Springfield, Mass.
Issuer: | MassMutual Global Funding II
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Amount: | $1.2 billion
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Issue: | Notes
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Maturity: | April 9, 2027
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Bookrunners: | BofA Securities, Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and TD Securities (USA) LLC
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Trade date: | April 2
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Floaters
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Amount: | $350 million
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Coupon: | SOFR plus 74 bps
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Initial talk: | SOFR plus equivalent spread
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5.1% notes
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Amount: | $850 million
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Coupon: | 5.1%
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Spread: | Treasuries plus 60 bps
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Initial talk: | Treasuries plus 80 bps area
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