Published on 6/20/2014 in the Prospect News High Yield Daily, Prospect News Investment Grade Daily and Prospect News Preferred Stock Daily.
New Issue: Societe Generale sells $1.5 billion 6% subordinated perpetuals at par
By Aleesia Forni
Virginia Beach, June 20 – Societe Generale SA sold $1.5 billion of 6% perpetual tier 1 subordinated notes (Ba3//BB) at par on Thursday, according to an informed source.
The Rule 144A and Regulation S deal priced at the tight end of talk.
Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Morgan Stanley & Co. LLC, UBS Securities LLC and Societe Generale were the bookrunners.
The financial services company is based in Paris.
| Issuer: | Societe Generale SA
|
| Amount: | $1.5 billion
|
| Description: | Tier 1 subordinated notes
|
| Maturity: | Perpetual
|
| Bookrunners: | Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Morgan Stanley & Co. LLC, UBS Securities LLC, Societe Generale
|
| Coupon: | 6%
|
| Price: | Par
|
| Yield: | 6%
|
| Trade date: | June 19
|
| Ratings: | Moody’s: Ba3
|
| Fitch: BB
|
| Price talk: | Low- to mid-6% area
|
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