By Devika Patel
Knoxville, Tenn., Nov. 29 – The Federal Home Loan Bank System sold $2.75 billion of 1.875% five-year Global Notes at 99.602 to yield 1.959% on Tuesday, according to a news release.
The notes priced with a spread of 14.5 basis points over Treasuries.
HSBC Securities (USA) Inc., TD Securities (USA) LLC and Wells Fargo Securities LLC were the bookrunners.
The notes were distributed globally with 71% going to U.S. investors, 2% to investors in Europe, 8% to Asia and 19% to investors in other countries.
The bulk, 48%, went to investment advisors/fund managers, while 22% went to central banks. Financial institutions took 14% of the notes, insurance and pension funds bought 11%, state/local governments purchased 3% and the remaining 2% went to other investor types.
The government-sponsored banks for financial institutions are based in Washington, D.C.
| Issuer: | Federal Home Loan Bank System
|
| Amount: | $2.75 billion
|
| Description: | Global Notes
|
| Maturity: | Nov. 29, 2021
|
| Bookrunners: | HSBC Securities (USA) Inc., TD Securities (USA) LLC, Wells Fargo Securities LLC
|
| Co-managers: | Barclays, Citigroup Global Markets Inc., Deutsche NY, FTN Financial Securities Corp., BofA Merrill Lynch, Morgan Stanley & Co. LLC, Nomura Securities
|
| Coupon: | 1.875%
|
| Price: | 99.602
|
| Yield: | 1.959%
|
| Spread: | Treasuries plus 14.5 bps
|
| Trade date: | Nov. 29
|
| Settlement date: | Nov. 30
|
| Distribution: | Global
|
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