By Andrea Heisinger
New York, Dec. 19 - Sovereign Bank priced two separate issues of notes backed by the Federal Deposit Insurance Corp. Temporary Liquidity Guarantee Program, according to an 8-K filing with the Securities and Exchange Commission.
The first issue was $1.35 billion of 2.75% senior bank notes due 2012 that were priced Dec. 15. A second offering of $250 million of 2.5% bank notes was priced Dec. 16.
Both were offered privately under Rule 3(a)(2).
Bookrunners were Goldman Sachs & Co. and J.P. Morgan Securities Inc.
The subsidiary of Sovereign Bancorp Inc. is based in Philadelphia.
| Issuer: | Sovereign Bank
|
| Issue: | FDIC-backed senior bank notes
|
| Bookrunners: | Goldman Sachs & Co., J.P. Morgan Securities Inc.
|
| Distribution: | Rule 3(a)(2) private placement
|
|
|
| 2.75% notes
|
| Amount: | $1.35 billion
|
| Maturity: | 2012
|
| Coupon: | 2.75%
|
| Trade date: | Dec. 15
|
| Settlement date: | Dec. 22
|
|
|
| 2.5% notes
|
| Amount: | $250 million
|
| Maturity: | 2012
|
| Coupon: | 2.5%
|
| Trade date: | Dec. 16
|
| Settlement date: | Dec. 22
|
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