By Cristal Cody
Eureka Springs, Ark., May 4 – Synchrony Financial sold $500 million of 18-month floating-rate senior notes (BBB-/BBB-) at par to yield Libor plus 140 basis points on Wednesday, according to an FWP filing with the Securities and Exchange Commission.
Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC were the bookrunners.
Proceeds will be used to invest in liquid assets to further increase the size of the company’s liquidity portfolio or for general corporate purposes.
Synchrony is a consumer financial services company based in Stamford, Conn.
| Issuer: | Synchrony Financial
|
| Amount: | $500 million
|
| Maturity: | Nov. 9, 2017
|
| Securities: | Floating-rate senior notes
|
| Bookrunners: | Citigroup Global Markets Inc., Morgan Stanley & Co. LLC
|
| Coupon: | Libor plus 140 bps
|
| Price: | Par
|
| Yield: | Libor plus 140 bps
|
| Call feature: | None
|
| Pricing date: | May 4
|
| Settlement date: | May 9
|
| Ratings: | S&P: BBB-
|
| Fitch: BBB-
|
| Distribution: | SEC registered
|
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