By Cristal Cody
Tupelo, Miss., April 23 – KeyCorp (Baa1/BBB+/A-) sold $750 million of 4.1% 10-year senior medium-term notes at a spread of 115 basis points over Treasuries on Monday, according to an FWP filing with the Securities and Exchange Commission.
The notes priced at 99.829 to yield 4.121%.
KeyBanc Capital Markets Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC were the bookrunners.
Proceeds will be used to repay debt and for general corporate purposes.
Cleveland-based KeyCorp is a bank holding company for regional bank KeyBank.
| Issuer: | KeyCorp
|
| Amount: | $750 million
|
| Description: | Series O senior medium-term notes
|
| Maturity: | April 30, 2028
|
| Bookrunners: | KeyBanc Capital Markets Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC
|
| Senior co-managers: | Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC
|
| Co-managers: | Academy Securities, Inc. and CastleOak Securities, LP
|
| Coupon: | 4.1%
|
| Price: | 99.829
|
| Yield: | 4.121%
|
| Spread: | Treasuries plus 115 bps
|
| Call features: | Non-callable
|
| Trade date: | April 23
|
| Settlement date: | April 30
|
| Ratings: | Moody’s: Baa1
|
| S&P: BBB+
|
| Fitch: A-
|
| DBRS: A (low)
|
| Distribution: | SEC registered
|
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