New Issue: Nationwide Building sells $1.25 billion 2.45% notes due 2021 at 135 bps over Treasuries

By Cristal Cody

Eureka Springs, Ark., July 21 – Nationwide Building Society priced $1.25 billion of 2.45% five-year notes (Aa3/A/A) at 135 basis points over Treasuries, according to a market source.

The notes priced at the tight end of guidance set in the 140 bps area over Treasuries. Initial price guidance was in the 155 bps area over Treasuries.

The bookrunners were BNP Paribas Securities Corp., Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC.

The mutual financial company and building society is based in Swindon, England.

Issuer:	Nationwide Building Society
Amount:	$1.25 billion
Description:	Notes
Maturity:	July 27, 2021
Bookrunners:	BNP Paribas Securities Corp., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC
Coupon:	2.45%
Spread:	Treasuries plus 135 bps
Trade date:	July 20
Ratings:	Moody’s: Aa3
	S&P: A
	Fitch: A
Price guidance:	Treasuries plus 140 bps area, tightened from Treasuries plus 155 bps area

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