By Aleesia Forni
Virginia Beach, March 25 – Goldman Sachs Group Inc. tapped Wednesday’s market to price a $1.5 billion two-part add-on to its existing senior notes (Baa1/A-/A) due April 23, 2020 and Jan. 23, 2025, according to an informed source.
The sale included a $700 million add-on to the company’s 2.6% notes due 2020 priced at Treasuries plus 112 basis points.
The notes sold at 100.322 to yield 2.531%.
The original $1 billion tranche of notes sold at 135 bps over Treasuries on Jan. 20.
There was also an $800 million tap of its 3.5% notes due 2025 sold at 145 bps over Treasuries.
Pricing was at 101.014 to yield 3.375%.
The initial $1.7 billion issue notes priced at 170 bps over Treasuries on Jan. 20.
Both tranches sold at the tight end of price guidance.
Goldman Sachs & Co. was the bookrunner.
Proceeds will be used for general corporate purposes.
The financial services company is based in New York City.
| Issuer: | Goldman Sachs Group Inc.
|
| Issue: | Add-on to senior notes
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| Amount: | $1.5 billion, upsized from $1 billion
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| Bookrunner: | Goldman Sachs & Co.
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| Trade date: | March 25
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| Ratings: | Moody’s: Baa1
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| Standard & Poor’s: A-
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| Fitch: A
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| Distribution: | SEC registered
|
|
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| Add-on to notes due 2020
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| Amount: | $700 million
|
| Maturity: | April 23, 2020
|
| Coupon: | 2.6%
|
| Price: | 100.322
|
| Yield: | 2.531%
|
| Spread: | Treasuries plus 112 bps
|
| Price talk: | 115 bps area, tightened from 115 bps to 120 bps
|
| Total issue size: | $1.7 billion
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|
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| Add-on to notes due 2025
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| Amount: | $800 million
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| Maturity: | Jan. 23, 2025
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| Coupon: | 3.5%
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| Price: | 101.014
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| Yield: | 3.375%
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| Spread: | Treasuries plus 145 bps
|
| Price talk: | 150 bps area, tightened from 150 bps to 155 bps
|
| Total issue size: | $2.5 billion
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