By William Gullotti and Cristal Cody
Buffalo, N.Y., Aug. 4 – KeyBank NA priced $2 billion of notes in tranches due 2025 and 2032 on Wednesday, according to a market source.
The first series is $1.25 billion of 4.15% three-year notes. The notes were priced at a spread of 112.5 basis points over treasuries, tight to initial talk in the 140 bps area.
KeyBank also priced $750 million of 4.9% 10-year subordinated notes. The second series priced at Treasuries plus 220 bps, also below initial talk in the 240 bps area.
KeyBank Capital Markets Inc., BofA Securities Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are the bookrunners.
KeyBank is a Cleveland-based regional bank.
| Issuer: | KeyBank NA
|
| Amount: | $2 billion
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| Bookrunners: | KeyBank Capital Markets Inc., BofA Securities Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC
|
| Trade date: | Aug. 3
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| 2025 notes
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| Amount: | $1.25 billion
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| Issue: | Notes
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| Maturity: | Aug. 8, 2025
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| Coupon: | 4.15%
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| Spread: | Treasuries plus 112.5 bps
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| Price talk: | Treasuries plus 140 bps area
|
|
|
| 2032 notes
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| Amount: | $750 million
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| Issue: | Subordinated notes
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| Maturity: | Aug. 8, 2032
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| Coupon: | 4.9%
|
| Spread: | Treasuries plus 220 bps
|
| Price talk: | Treasuries plus 240 bps area
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