By Christine Van Dusen
Atlanta, March 6 – China’s AIA Group Ltd. priced $750 million 3.2% notes due 2025 (expected ratings: A3/A) to yield Treasuries plus 110 basis points, a market source said.
The notes were talked at a spread in the 125 bps area.
Deutsche Bank and Morgan Stanley were the bookrunners for the Rule 144A and Regulation S deal.
The proceeds will be used for general corporate purposes.
Other details were not immediately available on Friday.
AIA is a pan-Asian life insurance group based in Hong Kong.
| Issuer: | AIA Group Ltd.
|
| Amount: | $750 million
|
| Maturity: | 2025
|
| Description: | Senior notes
|
| Bookrunners: | Deutsche Bank, Morgan Stanley
|
| Coupon: | 3.2%
|
| Spread: | Treasuries plus 110 bps
|
| Trade date: | March 4
|
| Settlement date: | March 12
|
| Expected ratings: | Moody’s: A3
|
| Standard & Poor’s: A
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Treasuries plus 125 bps area
|
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