KeyBank offers fixed-rate and floating-rate notes due 2024

By Cristal Cody

Chicago, June 8 – KeyBank NA is tapping the primary market on Tuesday for a two-part offering of notes, both due July 3, 2024, according to a market source.

The bank plans to sell a tranche of floating-rate notes based on a spread over SOFR.

Additionally, the bank is planning a fixed-rate tranche with talk in the Treasuries plus 45 basis points area.

Both tranches are non-callable for two years.

Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., KeyBanc Capital Markets Inc., RBC Capital Markets Corp. and Wells Fargo Securities LLC are bookrunners for the notes.

KeyBank is a Cleveland-based regional bank.

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