By Aleesia Forni
Virginia Beach, Nov. 13 - Bank of New York Mellon Corp. priced an upsized $1.2 billion two-part sale of senior medium-term notes, series G, on Wednesday, according to a market source and two separate FWP filings with the Securities and Exchange Commission.
The notes (Aa2/A+/AA-) were sold in tranches due 2019 and 2025.
BNY Mellon priced $800 million of 2.1% notes due 2019 with a spread of Treasuries plus 73 basis points, or 99.875 to yield 2.126%.
The notes priced at the tight end of talk.
A $400 million tranche of 3.95% 12-year senior notes sold in line with price talk at 125 bps over Treasuries.
Pricing was at 99.763 to yield 3.975%.
The bookrunners were BNY Mellon Capital Markets LLC, Credit Suisse Securities (USA) LLC, Goldman Sachs & Co. and Morgan Stanley & Co. LLC.
The New York-based financial services company was last in the U.S. bond market with a $100 million of five-year floaters priced with a spread of Libor plus 50 basis points on Aug. 2.
| Issuer: | Bank of New York Mellon Corp.
|
| Issue: | Senior medium-term notes, series G
|
| Amount: | $1.2 billion, upsized from $1 billion
|
| Joint bookrunners: | BNY Mellon Capital Markets LLC, Credit Suisse Securities (USA) LLC, Goldman Sachs & Co., Morgan Stanley & Co. LLC
|
| Co-managers: | Cabrera Capital Markets LLC, Guggenheim Securities LLC, MFR Securities Inc., Mischler Financial Group Inc., Raymond James & Associates Inc., RBS Securities Inc.
|
| Trade date: | Nov. 13
|
| Settlement date: | Nov. 18
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: A+
|
| Fitch: AA-
|
|
|
| Notes due 2019
|
| Amount: | $800 million
|
| Maturity: | Jan. 15, 2019
|
| Coupon: | 2.1%
|
| Price: | 99.875
|
| Yield: | 2.126%
|
| Spread: | Treasuries plus 73 bps
|
| Price talk: | Treasuries plus 75 bps area
|
|
|
| Notes due 2025
|
| Amount: | $400 million
|
| Maturity: | Nov. 18, 2025
|
| Coupon: | 3.95%
|
| Price: | 99.763
|
| Yield: | 3.975%
|
| Spread: | Treasuries plus 125 bps
|
| Price talk: | Treasuries plus 125 bps area
|
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