New Issue: KeyCorp sells $750 million 2.55% 10-year notes at 110 over Treasuries

By Devika Patel

Knoxville, Tenn., Sept. 4 – KeyCorp priced $750 million of 2.55% 10-year senior notes (Baa1/BBB+/A-/DBRS: A) on Wednesday at a spread of 110 basis points over Treasuries, according to an FWP filed with the Securities and Exchange Commission.

The notes priced at 99.92 to yield 2.559%.

KeyBanc Capital Markets LLC, Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC were the bookrunners.

Proceeds will be used for general corporate purposes.

KeyCorp is a Cleveland-based financial services company.

Issuer:	KeyCorp
Amount:	$750 million
Description:	Senior notes
Maturity:	Oct. 1, 2029
Bookrunners:	KeyBanc Capital Markets LLC, Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC
Senior co-managers:	BofA Securities, Inc., Citigroup Global Markets Inc. and Wells Fargo Securities LLC
Co-managers:	Academy Securities, Inc. and Blaylock Robert Van, LLC
Coupon:	2.55%
Price:	99.92
Yield:	2.559%
Spread:	Treasuries plus 110 bps
Call:	Non-callable
Trade date:	Sept. 4
Settlement date:	Sept. 11
Ratings:	Moody’s: Baa1
	S&P: BBB+
	Fitch: A-
	DBRS: A
Distribution:	SEC registered

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.