By Andrea Heisinger
Omaha, Nov. 6 - Northern Trust Corp. priced $400 million of notes (A1/AA-) in two tranches Tuesday, an informed source said.
A $200 million tranche of 5.2% five-year notes priced at 99.809 to yield 5.244%, or Treasuries plus 125 bps.
A $200 million tranche of 5.85% 10-year notes priced at 99.963 to yield 5.855%, or Treasuries plus 148 bps.
The notes are non-callable.
Bookrunners were Goldman Sachs and Merrill Lynch.
Proceeds will be used for general corporate purposes including funding of additional contributions to the capital of its subsidiaries.
The financial holding company is based in Chicago.
| Issuer: | Northern Trust Corp.
|
| Issue: | Notes
|
| Total amount: | $400 million
|
| Bookrunners: | Goldman Sachs, Merrill Lynch
|
| Trade date: | Nov. 6
|
| Settlement date: | Nov. 9
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: AA-
|
|
|
| Five-year tranche
|
| Amount: | $200 million
|
| Maturity: | Nov. 9, 2012
|
| Coupon: | 5.2%
|
| Price: | 99.809
|
| Yield: | 5.244%
|
| Spread: | Treasuries plus 125 bps
|
| Call: | Non-callable
|
|
|
| 10-year tranche
|
| Amount: | $200 million
|
| Maturity: | Nov. 9, 2017
|
| Coupon: | 5.85%
|
| Price: | 99.963
|
| Yield: | 5.855%
|
| Spread: | Treasuries plus 148 bps
|
| Call: | Non-callable
|
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