By Cristal Cody
Chicago, June 7 – New York Life Global Funding priced $750 million of 4.9% funding agreement-backed notes with a five-year tenor on Tuesday, a market source said.
The notes priced at Treasuries plus 107 basis points. Initial talk had them pricing in the 130 bps area.
Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and U.S. Bancorp Investments Inc. are listed as bookrunners.
The issuer is a special purpose entity for New York-based mutual insurance company New York Life Insurance Co.
| Issuer: | New York Life Global Funding
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| Amount: | $750 million
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| Issue: | FA-backed notes
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| Maturity: | June 13, 2028
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| Bookrunners: | Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and U.S. Bancorp Investments Inc.
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| Coupon: | 4.9%
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| Spread: | Treasuries plus 107 bps
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| Trade date: | June 6
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| Price talk: | Treasuries plus 130 bps area
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