By Aleesia Forni
Virginia Beach, Dec. 10 – New York Life Global Funding priced $650 million of three-year notes (Aaa/AA+/) in fixed- and floating-rate tranches on Wednesday, a market source said.
There was $250 million of three-year floaters priced at par to yield Libor plus 28 basis points.
A second tranche was $400 million of 1.45% notes due 2017 priced at 99.886 to yield 1.489%, or Treasuries plus 50 bps.
The notes sold in line with talk.
The sale was done via Rule 144A and Regulation S.
Bookrunners were Barclays, Citigroup Global Markets Inc. and Deutsche Bank Securities Inc.
The unit of mutual insurance company New York Life Insurance Co. is based in New York.
| Issuer: | New York Life Global Funding
|
| Issue: | Notes
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| Amount: | $650 million
|
| Bookrunners: | Barclays, Citigroup Global Markets Inc., Deutsche Bank Securities Inc.
|
| Trade date: | Dec. 10
|
| Settlement date: | Dec. 17
|
| Ratings: | Moody’s: Aaa
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| Standard & Poor’s: AA+
|
| Distribution: | Rule 144A, Regulation S
|
|
|
| Three-year floaters
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| Amount: | $250 million
|
| Maturity: | Dec. 15, 2017
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| Coupon: | Libor plus 28 bps
|
| Price: | Par
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| Yield: | Libor plus 28 bps
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| Price talk: | Libor equivalent to three-year notes
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|
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| Three-year notes
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| Amount: | $400 million
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| Maturity: | Dec. 15, 2017
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| Coupon: | 1.45%
|
| Price: | 99.886
|
| Yield: | 1.489%
|
| Spread: | Treasuries plus 50 bps
|
| Price talk: | Treasuries plus 50 bps area
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