By Andrea Heisinger
New York, Dec. 17 - KeyCorp priced $250 million of floating-rate notes due Dec. 19, 2011 backed by the Federal Deposit Insurance Corp. Temporary Liquidity Guarantee Program, according to a market source and a 424B5 filing with the Securities and Exchange Commission.
The non-callable notes (Aaa/AAA/AAA) priced on Tuesday at par to yield one-month Libor plus 60 basis points.
Barclays Capital Inc. was the bookrunner. The co-manager was KeyBanc Capital Markets.
The company had previously issued $1.25 billion FDIC-backed notes in two tranches on Dec. 10.
The holding company for KeyBank NA is based in Cleveland.
| Issuer: | KeyCorp
|
| Guarantor: | Federal Deposit Insurance Corp.
|
| Issue: | FDIC-backed floating-rate notes
|
| Amount: | $250 million
|
| Maturity: | Dec. 19, 2011
|
| Bookrunner: | Barclays Capital Inc.
|
| Co-manager: | KeyBanc Capital Markets
|
| Coupon: | One-month Libor plus 60 bps, payable monthly
|
| Price: | Par
|
| Yield: | One-month Libor plus 60 bps
|
| Call: | Non-callable
|
| Trade date: | Dec. 16
|
| Settlement date: | Dec. 19
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
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