By Aleesia Forni
Virginia Beach, Jan. 12 – Reliance Standard Life Global Funding II priced $300 million of 3.05% funding agreement-backed notes (A2/A) due Jan. 20, 2021 at 155 basis points over Treasuries on Tuesday, according to a market source.
The notes sold at the tight end of talk set in the range of Treasuries plus 155 bps to 160 bps.
Pricing was at 99.885 to yield 3.075%.
Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC and U.S. Bancorp Investments Inc. were the bookrunners.
The insurance carrier is based in New York.
| Issuer: | Reliance Standard Life Global Funding II
|
| Amount: | $300 million
|
| Description: | Funding agreement-backed notes
|
| Maturity: | Jan. 20, 2021
|
| Bookrunners: | Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, U.S. Bancorp Investments Inc.
|
| Coupon: | 3.05%
|
| Price: | 99.885
|
| Yield: | 3.075%
|
| Spread: | Treasuries plus 155 bps
|
| Trade date: | Jan. 12
|
| Ratings: | Moody’s: A2
|
| Standard & Poor’s: A
|
| Price talk: | Treasuries plus 155 bps to 160 bps
|
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