By Aleesia Forni
Virginia Beach, Nov. 21 - KeyBank NA priced $750 million of senior notes (A3/A-/A-) due 2016 in two tranches on Thursday, according to an informed source.
The deal included $350 million 1.1% notes due 2016 priced at Treasuries plus 58 basis points, or 99.924 to yield 1.12%.
Pricing was at the tight end of talk.
There was also a $400 million tranche of three-year floaters sold at par to yield Libor plus 49 bps.
Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Keybanc Capital Markets LLC were the joint bookrunners.
Proceeds will be used for general corporate purposes.
KeyBank is a Cleveland-based financial services company.
| Issuer: | KeyBank NA
|
| Issue: | Senior notes
|
| Amount: | $750 million
|
| Joint bookrunners: | Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Keybanc Capital Markets LLC
|
| Trade date: | Nov. 21
|
| Settlement date: | Nov. 26
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A-
|
| Fitch: A-
|
|
|
| Floaters due 2016
|
| Amount: | $400 million
|
| Maturity: | Nov. 25, 2016
|
| Coupon: | Libor plus 49 bps
|
| Price: | Par
|
| Yield: | Libor plus 49 bps
|
|
|
| Notes due 2016
|
| Amount: | $350 million
|
| Maturity: | Nov. 25, 2016
|
| Coupon: | 1.1%
|
| Price: | 99.924
|
| Yield: | 1.12%
|
| Spread: | Treasuries plus 58 bps
|
| Price talk: | Treasuries plus 60 bps area
|
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