By Cristal Cody
Chicago, Jan. 19 – Societe Generale priced $5 billion of notes across four tranches, according to a market source.
The bank sold the first two tranches for $1.25 billion each.
SocGen priced $1.25 billion of 6.447% notes with a four-year tenor with three years of call protection. Pricing came at Treasuries plus 230 basis points. Initial talk was in the 250 bps area.
The second $1.25 billion tranche priced with a 6.446% coupon and a six-year tenor. There are five years of call protection. The notes priced at Treasuries plus 255 bps versus talk in the 275 bps area.
The largest tranche priced as $1.5 billion of 6.691% 11-year notes with 10 years of call protection. The notes priced at Treasuries plus 295 bps after talk started in the 315 bps area.
The deal also included $1 billion of 7.367% tier 2 capital notes due 2053. Pricing was at Treasuries plus 350 bps after talk in the 375 bps area.
Societe Generale, BofA Securities, Citigroup, JPMorgan, RBC and Standard Chartered Bank were the bookrunners.
The investment banking company is based in Paris.
| Issuer: | Societe Generale
|
| Amount: | $5 billion
|
| Issue: | Notes
|
| Bookrunners: | Societe Generale, BofA Securities, Citigroup, JPMorgan, RBC and Standard Chartered Bank
|
| Trade date: | Jan. 3
|
|
|
| Four-year notes
|
| Amount: | $1.25 billion
|
| Maturity: | Jan. 12, 2027
|
| Coupon: | 6.447%
|
| Spread: | Treasuries plus 230 bps
|
| Call features: | Three years
|
| Price talk: | Treasuries plus 250 bps area
|
|
|
| Six-year notes
|
| Amount: | $1.25 billion
|
| Maturity: | Jan. 10, 2029
|
| Coupon: | 6.446%
|
| Spread: | Treasuries plus 255 bps
|
| Call features: | Five years
|
| Price talk: | Treasuries plus 275 bps area
|
|
|
| 11-year notes
|
| Amount: | $1.5 billion
|
| Maturity: | Jan. 10, 2034
|
| Coupon: | 6.691%
|
| Spread: | Treasuries plus 295 bps
|
| Call features: | 10 years
|
| Price talk: | Treasuries plus 315 bps area
|
|
|
| Tier 2 notes
|
| Amount: | $1 billion
|
| Issue: | Tier 2 capital notes
|
| Maturity: | Jan. 10, 2053
|
| Coupon: | 7.367%
|
| Spread: | Treasuries plus 350 bps
|
| Price talk: | Treasuries plus 375 bps area
|
|
|
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