By Devika Patel
Knoxville, Tenn., Jan. 27 – SVB Financial Group offered further details, including the spread and yield, about a $500 million sale of 1.8% senior notes due 2031 (A3/BBB) that priced on Tuesday with a spread of Treasuries plus 80 basis points, according to an FWP filed with the Securities and Exchange Commission.
The notes were sold at 99.672 to yield 1.836%.
Goldman Sachs & Co. LLC and BofA Securities Inc. were the joint bookrunners.
Proceeds will be used for general corporate purposes.
The financial services and bank holding company is based in Santa Clara, Calif.
| Issuer: | SVB Financial Group
|
| Amount: | $500 million
|
| Maturity: | Feb. 2, 2031
|
| Securities: | Senior notes
|
| Bookrunners: | Goldman Sachs & Co. LLC and BofA Securities, Inc.
|
| Co-manager: | SVB Leerink LLC
|
| Coupon: | 1.8%
|
| Price: | 99.672
|
| Yield: | 1.836%
|
| Spread: | Treasuries plus 80 bps
|
| Call: | Make-whole call at Treasuries plus 15 bps until Nov. 2, 2030, then a par call
|
| Pricing date: | Jan. 26
|
| Settlement date: | Feb. 2
|
| Ratings: | Moody’s: A3
|
| S&P: BBB
|
| Distribution: | SEC registered
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
