By Cristal Cody
Eureka Springs, Ark., April 21 – Goldman Sachs Group Inc. raised $3.5 billion in a four-part offering of three-year and five-year fixed- and floating-rate notes (A3/BBB+/A) in Wednesday’s sale, according to a market source.
The final book size on the deal was $13.5 billion, or 3.86 times the bid-to-cover.
The company priced $500 million of three-year floating-rate notes at par to yield Libor plus 104 basis points.
Goldman sold $500 million of 2% three-year notes at 99.722 to yield 2.096%, or Treasuries plus 113 bps.
The $1 billion tranche of five-year floaters priced at par to yield Libor plus 136 bps.
In the final tranche, Goldman sold $1.5 billion of 2.625% five-year notes at 99.935 to yield 2.639%. The notes priced with a spread of Treasuries plus 133 bps.
Goldman Sachs & Co. was the bookrunner.
The financial services company is based in New York City.
| Issuer: | Goldman Sachs Group Inc.
|
| Amount: | $3.5 billion
|
| Description: | Notes
|
| Bookrunner: | Goldman Sachs & Co.
|
| Trade date: | April 20
|
| Ratings: | Moody’s: A3
|
| Standard & Poor’s: BBB+
|
| Fitch: A
|
|
|
| Three-year floaters
|
| Amount: | $500 million
|
| Maturity: | April 25, 2019
|
| Coupon: | Libor plus 104 bps
|
| Price: | Par
|
| Yield: | Libor plus 104 bps
|
|
|
| Three-year notes
|
| Amount: | $500 million
|
| Maturity: | April 25, 2019
|
| Coupon: | 2%
|
| Price: | 99.722
|
| Yield: | 2.096%
|
| Spread: | Treasuries plus 113 bps
|
|
|
| Five-year floaters
|
| Amount: | $1 billion
|
| Maturity: | April 23, 2021
|
| Coupon: | Libor plus 136 bps
|
| Price: | Par
|
| Yield: | Libor plus 136 bps
|
|
|
| Five-year notes
|
| Amount: | $1.5 billion
|
| Maturity: | April 25, 2021
|
| Coupon: | 2.625%
|
| Price: | 99.935
|
| Yield: | 2.639%
|
| Spread: | Treasuries plus 133 bps
|
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