By Aleesia Forni
Virginia Beach, June 17 – Assured Guaranty US Holdings Inc. priced $500 million of 5% senior notes due 2024 with a spread of Treasuries plus 237.5 basis points, according to an informed source and a FWP filed with the Securities and Exchange Commission.
The notes (Baa2/A/) priced at 99.795 to yield 5.026%.
The joint bookrunners were BofA Merrill Lynch and Wells Fargo Securities LLC.
Proceeds will be used for general corporate purposes, including the repurchase of common shares.
The notes will be guaranteed by Assured Guaranty Ltd.
Assured is a Hamilton, Bermuda, provider of credit enhancement for municipal finance, structured finance and mortgage markets.
| Issuer: | Assured Guaranty US Holdings Inc.
|
| Guarantor: | Assured Guaranty Ltd.
|
| Amount: | $500 million
|
| Description: | Senior notes
|
| Maturity: | July 1, 2024
|
| Bookrunners: | BofA Merrill Lynch, Wells Fargo Securities LLC
|
| Coupon: | 5%
|
| Price: | 99.795
|
| Yield: | 5.026%
|
| Spread: | Treasuries plus 237.5 bps
|
| Make-whole call: | Treasuries plus 40 bps
|
| Trade date: | June 17
|
| Settlement date: | June 20
|
| Ratings: | Moody’s: Baa2
|
| Standard & Poor's: A
|
| Distribution: | SEC registered
|
| Price talk: | Treasuries plus 240 bps area
|
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