By Cristal Cody
Tupelo, Miss., Nov. 14 – U.S. Bank NA priced $1 billion of senior notes (A1/AA-/AA-) in two tranches on Tuesday, according to a market source.
The company sold $700 million of three-year floating-rate notes at Libor plus 38 basis points.
A $300 million tranche of 3.45% three-year fixed-rate notes priced at a spread of Treasuries plus 55 bps.
Morgan Stanley & Co. LLC, RBC Capital Markets, LLC and UBS Securities LLC were the bookrunners.
The commercial bank is based in Cincinnati.
| Issuer: | U.S. Bank NA
|
| Amount: | $1 billion
|
| Description: | Senior notes
|
| Bookrunners: | Morgan Stanley & Co. LLC, RBC Capital Markets, LLC and UBS Securities LLC
|
| Trade date: | Nov. 13
|
| Ratings: | Moody’s: A1
|
| S&P: AA-
|
| Fitch: AA-
|
|
|
| Three-year floaters
|
| Amount: | $700 million
|
| Description: | Floating-rate notes
|
| Maturity: | Nov. 16, 2021
|
| Coupon: | Libor plus 38 bps
|
|
|
| Three-year notes
|
| Amount: | $300 million
|
| Description: | Fixed-rate notes
|
| Maturity: | Nov. 16, 2021
|
| Coupon: | 3.45%
|
| Spread: | Treasuries plus 55 bps
|
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