By Aleesia Forni
Virginia Beach, March 9 – Abbey National Treasury Services plc priced $1 billion 2.375% five-year senior notes (A2/A/A) on Monday at Treasuries plus 77 basis points, according to an informed source.
Pricing was at 99.785 to yield 2.421%.
The notes priced at the tight end of talk set in the 80 bps area over Treasuries. Guidance was set in the high-80 bps area over Treasuries.
BofA Merrill Lynch, Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, Santander and Wells Fargo Securities LLC were the bookrunners.
The notes are guaranteed by Santander UK plc.
Proceeds from the sale will be used for general corporate purposes.
The financial services companies are based in London.
| Issuer: | Abbey National Treasury Services plc
|
| Guarantor: | Santander UK plc
|
| Amount: | $1 billion
|
| Description: | Senior notes
|
| Maturity: | March 16, 2020
|
| Bookrunners: | BofA Merrill Lynch, Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, Santander, Wells Fargo Securities LLC
|
| Coupon: | 2.375%
|
| Price: | 99.785
|
| Yield: | 2.421%
|
| Spread: | 77 bps over Treasuries
|
| Trade date: | March 9
|
| Settlement date: | March 16
|
| Ratings: | Moody’s: A2
|
| Standard & Poor’s: A
|
| Fitch: A
|
| Distribution: | SEC registered
|
| Price talk: | 80 bps area over Treasuries, tightened from high-80 bps area
|
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