By Cristal Cody
Tupelo, Miss., Jan. 28 – Huntington National Bank (A3/A-/A-) sold $500 million of 1.8% three-year senior notes on the tight side of guidance at a spread of 38 basis points over Treasuries on Tuesday, according to a market source.
Initial price talk was in the Treasuries plus 55 bps area with guidance tightened to the 40 bps spread area.
Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC and RBC Capital Markets, LLC were the bookrunners.
In addition, Huntington National Bank parent company Huntington Bancshares Inc. sold $750 million of 10-year registered senior notes on Tuesday.
Huntington National Bank is part of Columbus, Ohio-based bank holding company Huntington Bancshares Inc.
| Issuer: | Huntington National Bank
|
| Amount: | $500 million
|
| Description: | Senior notes
|
| Maturity: | Feb. 3, 2023
|
| Bookrunners: | Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC and RBC Capital Markets, LLC
|
| Coupon: | 1.8%
|
| Spread: | Treasuries plus 38 bps
|
| Trade date: | Jan. 28
|
| Ratings: | Moody’s: A3
|
| S&P: A-
|
| Fitch: A-
|
| Price talk: | Treasuries plus 40 bps area, plus or minus 2 bps; initial talk at Treasuries plus 55 bps area
|
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