By Andrea Heisinger
Omaha, May 7 - KeyCorp priced and upsized $750 million of 6.5% five-year senior medium-term notes Wednesday to yield Treasuries plus 350 basis points, an informed source said.
The non-callable notes (A2/A-/A) priced at 99.588 to yield 6.598%.
The notes priced at the tight end of price talk of 350 bps to 362.5 bps over Treasuries.
The size of the issue was increased from $300 million.
Agents were Citigroup Global Markets Inc., Credit Suisse Securities LLC, KeyBanc Capital Markets Inc. and UBS Securities LLC.
Co-agents were Merrill Lynch, Pierce, Fenner & Smith Inc. and Wachovia Capital Securities LLC.
The banking company is based in Cleveland.
| Issuer: | KeyCorp
|
| Issue: | Senior medium-term notes
|
| Amount: | $750 million, increased from $300 million
|
| Maturity: | May 14, 2013
|
| Agents: | Citigroup Global Markets Inc., Credit Suisse Securities LLC, KeyBanc Capital Markets Inc., UBS Securities LLC
|
| Co-agents: | Merrill Lynch, Pierce, Fenner & Smith Inc., Wachovia Capital Securities LLC
|
| Coupon: | 6.5%
|
| Price: | 99.588
|
| Yield: | 6.598%
|
| Spread: | Treasuries plus 350 bps
|
| Call: | Non-callable
|
| Trade date: | May 7
|
| Settlement date: | May 14
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A-
|
| Fitch: A
|
| Price talk: | 350 to 362.5 bps
|
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