By Aleesia Forni
Virginia Beach, Nov. 3 – Huntington National Bank priced $850 million of 2.2% three-year senior notes (A3) at Treasuries plus 115 basis points on Tuesday, a market source said.
The notes sold at 99.882 to yield 2.241%.
Pricing came at the tight end of guidance set in the 120 bps area over Treasuries. Initially, the notes were talked in the Treasuries plus 135 bps area.
Bookrunners were BofA Merrill Lynch, Goldman Sachs & Co and Huntington.
Plans for a three-year floating-rate tranche were dropped prior to the deal’s launch.
The banking affiliate of Huntington Bancshares is based in Columbus, Ohio.
| Issuer: | Huntington National Bank
|
| Amount: | $850 million
|
| Description: | Senior notes
|
| Maturity: | Nov. 6, 2018
|
| Bookrunners: | BofA Merrill Lynch, Goldman Sachs & Co., Huntington
|
| Coupon: | 2.2%
|
| Price: | 99.882
|
| Yield: | 2.241%
|
| Spread: | Treasuries plus 115 bps
|
| Trade date: | Nov. 3
|
| Settlement date: | Nov. 6
|
| Price guidance: | Treasuries plus 120 bps area, Treasuries plus 135 bps area
|
| Rating: | Moody’s: A3
|
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