By Cristal Cody
Tupelo, Miss., Jan. 14 – New York Life Global Funding sold $650 million of 2% senior secured notes due Jan. 22, 2025 (Aaa/AA+/AAA) on Tuesday at a spread of 45 basis points over Treasuries, according to a market source.
Initial price talk was in the Treasuries plus 60 bps area.
BofA Securities, Inc., Citigroup Global Markets Inc. and J.P. Morgan Securities LLC were the bookrunners.
New York Life Global is a unit of New York-based mutual insurance company New York Life Insurance Co.
| Issuer: | New York Life Global Funding
|
| Amount: | $650 million
|
| Description: | Senior secured notes
|
| Maturity: | Jan. 22, 2025
|
| Bookrunners: | BofA Securities, Inc., Citigroup Global Markets Inc. and J.P. Morgan Securities LLC
|
| Coupon: | 2%
|
| Spread: | Treasuries plus 45 bps
|
| Trade date: | Jan. 14
|
| Ratings: | Moody’s: Aaa
|
| S&P: AA+
|
| Fitch: AAA
|
| Distribution: | Rule 144A and Regulation S
|
| Price guidance: | Treasuries plus 60 bps area
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
