By Andrea Heisinger
New York, Oct. 27 - SunTrust Banks, Inc. sold $750 million of 3.5% five-year senior notes on Thursday to yield Treasuries plus 235 basis points, according to an FWP filing with the Securities and Exchange Commission.
The notes (Baa1/BBB/BBB+) were sold at 99.876 to yield 3.527%.
The securities are non-callable until Dec. 20, 2016 and then can be redeemed at par.
SunTrust Robinson Humphrey Inc. and Credit Suisse Securities (USA) LLC were the bookrunners.
Co-managers were Jefferies & Co. Inc., Keefe, Bruyette & Woods, Inc., Loop Capital Markets LLC, RBS Securities Inc. and Samuel A. Ramirez & Co. Inc.
Proceeds will be used for general corporate purposes.
The financial services company is based in Atlanta.
| Issuer: | SunTrust Banks, Inc.
|
| Issue: | Senior notes
|
| Amount: | $750 million
|
| Maturity: | Jan. 20, 2017
|
| Bookrunners: | SunTrust Robinson Humphrey Inc., Credit Suisse Securities (USA) LLC
|
| Co-managers: | Jefferies & Co. Inc., Keefe, Bruyette & Woods, Inc., Loop Capital Markets LLC, RBS Securities Inc., Samuel A. Ramirez & Co. Inc.
|
| Coupon: | 3.5%
|
| Price: | 99.876
|
| Yield: | 3.527%
|
| Spread: | Treasuries plus 235 bps
|
| Call: | Non-callable until Dec. 20, 2016, then at par
|
| Trade date: | Oct. 27
|
| Settlement date: | Nov. 1
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB
|
| Fitch: BBB+
|
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