By Aleesia Forni
New York, March 3 – KeyBank NA, Cleveland sold $1 billion of 2.35% three-year senior bank notes (A3/A-/A-) at 137.5 basis points over Treasuries on Thursday, a market source said.
The issue sold at 99.951 to yield 2.367%.
Pricing came at the tight side of the 140 bps area over Treasuries guidance, which firmed from the 155 bps area over Treasuries.
Goldman Sachs & Co., J.P. Morgan Securities LLC, KeyBank and Morgan Stanley & Co. LLC were the bookrunners.
The Cleveland-based financial services company plans to use the proceeds for general corporate purposes.
| Issuer: | KeyBank NA, Cleveland
|
| Amount: | $1 billion
|
| Description: | Senior bank notes
|
| Maturity: | March 8, 2019
|
| Bookrunners: | Goldman Sachs & Co., J.P. Morgan Securities LLC, KeyBank, Morgan Stanley & Co. LLC
|
| Coupon: | 2.35%
|
| Price: | 99.951
|
| Yield: | 2.367%
|
| Spread: | Treasuries plus 137.5 bps
|
| Trade date: | March 3
|
| Settlement date: | March 8
|
| Ratings: | Moody’s: A3
|
| Standard & Poor’s: A-
|
| Fitch: A-
|
| Price guidance: | Treasuries plus 140 bps area (+/- 2.5 bps)
|
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