By Devika Patel and Cristal Cody
Knoxville, Tenn., Aug. 17 – Assured Guaranty US Holdings Inc. priced $400 million of 3.6% senior notes due Sept. 15, 2051 (Baa2/A//Kroll: A+) on Tuesday, according to an FWP filed with the Securities and Exchange Commission.
The notes priced at 99.815 to yield 3.61% with a spread of Treasuries plus 170 basis points.
The notes were talked to yield in the 200 bps area over Treasuries.
The notes are guaranteed by Assured Guaranty Ltd.
BofA Securities Inc. and Goldman Sachs & Co. LLC are joint bookrunners.
Bank of New York Mellon is the trustee, according to a 424B3 filing with the SEC.
Proceeds will be used to redeem or repurchase certain debt.
The company intends to list the notes on the New York Stock Exchange.
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.
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| Description: | Senior notes
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| Amount: | $400 million
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| Maturity: | Sept. 15, 2051
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| Bookrunners: | BofA Securities Inc. and Goldman Sachs & Co. LLC
|
| Co-manager: | Siebert Williams Shank & Co. LLC
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| Coupon: | 3.6%
|
| Price: | 99.815
|
| Yield: | 3.61%
|
| Spread: | Treasuries plus 170 bps
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| Call: | Make-whole call at Treasuries plus 30 bps until March 15, 2051, then a par call
|
| Trade date: | Aug. 17
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| Settlement date: | Aug. 20
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| Ratings: | Moody’s: Baa2
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| S&P: A
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| Kroll: A+
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| Distribution: | SEC registered
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| Guidance: | Treasuries plus 200 bps area
|
| Cusip: | 04621WAE0
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