By Aleesia Forni
Virginia Beach, April 21 – Suncorp-Metway Ltd. sold $600 million of 2.35% five-year notes (A1/A+/A+) at Treasuries plus 103 basis points on Tuesday, according to a market source.
Pricing was at 99.934 to yield 2.364%.
The notes sold at the tight end of guidance set in the 105 bps area over Treasuries.
The company plans to use the proceeds for general corporate purposes.
Citigroup Global Markets Inc., Deutsche Bank Securities Inc., RBC Capital Markets LLC and UBS Securities LLC were the bookrunners.
Suncorp-Metway is a finance, insurance and banking group based in Brisbane, Australia.
| Issuer: | Suncorp-Metway Ltd.
|
| Amount: | $600 million
|
| Description: | Senior notes
|
| Maturity: | April 27, 2020
|
| Bookrunners: | Citigroup Global Markets Inc., Deutsche Bank Securities Inc., RBC Capital Markets LLC, UBS Securities LLC
|
| Coupon: | 2.35%
|
| Price: | 99.934
|
| Yield: | 2.364%
|
| Spread: | 103 bps over Treasuries
|
| Trade date: | April 21
|
| Ratings: | Moody’s: A1
|
| Standard & Poor’s: A+
|
| Fitch: A+
|
| Distribution: | Rule 144A, Regulation S
|
| Price guidance: | 105 bps area over Treasuries, tightened from 115 bps area
|
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