By Cristal Cody
Tupelo, Miss., Jan. 21 – Nationwide Building Society priced a $1 billion Rule 144A and Regulation S offering of 2% three-year senior notes (Aa3/A/A+) on Tuesday at a spread of 52 basis points over Treasuries, according to a market source.
Initial price talk was in the Treasuries plus 65 bps to 70 bps area.
Barclays, Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC and NatWest Markets plc were the bookrunners.
The mutual financial company and building society is based in Swindon, England.
| Issuer: | Nationwide Building Society
|
| Amount: | $1 billion
|
| Description: | Senior notes
|
| Maturity: | Jan. 27, 2023
|
| Bookrunners: | Barclays, Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC and NatWest Markets plc
|
| Coupon: | 2%
|
| Spread: | Treasuries plus 52 bps
|
| Trade date: | Jan. 21
|
| Ratings: | Moody’s: Aa3
|
| S&P: A
|
| Fitch: A+
|
| Distribution: | Rule 144A and Regulation S
|
| Price guidance: | Treasuries plus 65 bps-70 bps area
|
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