By Cristal Cody
Tupelo, Miss., March 13 – SunTrust Banks, Inc. priced $1.25 billion of 3.2% five-year senior notes on Tuesday at a spread of 80 basis points over Treasuries, according to a market source.
The notes (Baa1/BBB+/A-) were initially talked to print in the Treasuries plus 90 bps to 95 bps spread area.
BB&T Capital Markets, Citigroup Global Markets Inc., Morgan Stanley & Co. LLC and SunTrust Robinson Humphrey Inc. were the bookrunners.
The financial holding company for SunTrust Bank is based in Atlanta.
| Issuer: | SunTrust Banks, Inc.
|
| Amount: | $1.25 billion
|
| Description: | Senior notes
|
| Maturity: | April 1, 2024
|
| Bookrunners: | BB&T Capital Markets, Citigroup Global Markets Inc., Morgan Stanley & Co. LLC and SunTrust Robinson Humphrey Inc.
|
| Coupon: | 3.2%
|
| Spread: | Treasuries plus 80 bps
|
| Trade date: | March 12
|
| Ratings: | Moody’s: Baa1
|
| S&P: BBB+
|
| Fitch: A-
|
| Price guidance: | Treasuries plus 90 bps-95 bps area
|
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