New Issue: New York Life Global Funding sells $750 million floaters due 2022 at Libor plus 28 bps

By Cristal Cody

Tupelo, Miss., Oct. 15 – New York Life Global Funding sold $750 million of floating-rate notes due Jan. 21, 2022 (Aaa/AA+/AAA) backed by funding agreements at Libor plus 28 basis points on Tuesday, according to a market source.

Initial price talk was in the Libor plus mid-to-high 30 bps area.

BofA Securities, Inc., Deutsche Bank Securities Inc. and Goldman Sachs & Co. LLC were the bookrunners.

New York Life Global Funding is a unit of New York-based mutual insurance company New York Life Insurance Co.

Issuer:	New York Life Global Funding
Amount:	$750 million
Description:	FA-backed floating-rate notes
Maturity:	Jan. 21, 2022
Bookrunners:	BofA Securities, Inc., Deutsche Bank Securities Inc. and Goldman Sachs & Co. LLC
Coupon:	Libor plus 28 bps
Trade date:	Oct. 15
Ratings:	Moody’s: Aaa
	S&P: AA+
	Fitch: AAA
Distribution:	Rule 144A, Regulation S
Price guidance:	Libor plus 30 bps area, plus or minus 2 bps; initial talk at Libor plus mid-to-high 30 bps area

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