By Cristal Cody
Tupelo, Miss., March 1 – KeyBank NA priced $500 million of 3.375% five-year senior bank notes (A3/A-/A-) on Wednesday at a spread of 73 basis points over Treasuries, according to a market source.
The notes priced on the tight side of guidance in the Treasuries plus 75 bps area.
Goldman Sachs & Co., J.P. Morgan Securities LLC, KeyBank Capital Markets Inc. and Morgan Stanley & Co. LLC were the lead managers.
KeyBank is a Cleveland-based regional bank.
| Issuer: | KeyBank NA
|
| Amount: | $500 million
|
| Description: | Senior bank notes
|
| Maturity: | March 7, 2023
|
| Bookrunners: | Goldman Sachs & Co., J.P. Morgan Securities LLC, KeyBank Capital Markets Inc. and Morgan Stanley & Co. LLC
|
| Coupon: | 3.375%
|
| Spread: | Treasuries plus 73 bps
|
| Trade date: | Feb. 28
|
| Ratings: | Moody’s: A3
|
| S&P: A-
|
| Fitch: A-
|
| Price guidance: | Treasuries plus 75 bps area
|
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