By Andrea Heisinger
Omaha, Jan. 10 - Hartford Life Global Funding priced $300 million four-year extendible floating-rate notes (Aa3/AA-) at par, according to an FWP filing with the Securities and Exchange Commission.
The notes have a coupon of three-month Libor plus 27 basis points for the first year.
The initial maturity date is Jan. 15, 2009 but holders can extend them in 366-day increments up to the final maturity of Jan. 13, 2012.
The coupon steps up 2 bps after the first year and each year after until the final year, when it increases 1 bp.
Bookrunners were Deutsche Bank Securities Inc. and J.P. Morgan Securities Inc.
The insurance and financial company is based in Hartford, Conn.
| Issuer: | Hartford Life Global Funding
|
| Issue: | Extendible floating-rate notes
|
| Amount: | $300 million
|
| Maturity: | Jan. 15, 2009 (initial), Jan. 13, 2012 (final)
|
| Bookrunners: | Deutsche Bank Securities Inc., J.P. Morgan Securities Inc.
|
| Coupon: | Three-month Libor plus 27 bps, increasing by 2 bps each year until the final year when it increases by 1 bp
|
| Price: | Par
|
| Trade date: | Jan. 9
|
| Settlement date: | Jan. 16
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
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