By Cristal Cody
Eureka Springs, Ark., April 26 – Suncorp-Metway Ltd. placed $500 million of 2.1% notes due May 3, 2019 at a spread of Treasuries plus 110 basis points on Tuesday, a market source said.
The notes due May 3, 2019 (A1/A+/A+) priced on the tight side of guidance of 115 bps, plus or minus 5 bps.
Citigroup Global Markets Inc., Deutsche Bank Securities Inc., RBC Capital Markets LLC and UBS Securities LLC were the lead managers.
Suncorp-Metway is a subsidiary of Suncorp Group Ltd., a Brisbane, Australia-based finance, insurance and banking company.
| Issuer: | Suncorp-Metway Ltd.
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| Amount: | $500 million
|
| Maturity: | May 3, 2019
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| Securities: | Notes
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| Bookrunners: | Citigroup Global Markets Inc., Deutsche Bank Securities Inc., RBC Capital Markets LLC and UBS Securities LLC
|
| Coupon: | 2.1%
|
| Spread: | Treasuries plus 110 bps
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| Pricing date: | April 26
|
| Ratings: | Moody’s: A1
|
| Standard & Poor’s: A+
|
| Fitch: A+
|
| Price guidance: | Treasuries plus 115 bps, plus or minus 5 bps
|
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