By Aleesia Forni
Virginia Beach, Jan. 15 - Banque Federative du Credit Mutuel priced $1.5 billion of notes (Aa3/A/A+) in three parts, a market source said.
The sale included $500 million of 1.7% notes due 2017 priced with a spread of Treasuries plus 95 basis points.
There was also $600 million of three-year floaters sold at par to yield Libor plus 85 bps.
A $400 million tranche of 2.75% five-year notes priced at 115 bps over Treasuries.
All three tranches priced on top of price talk.
Bookrunners were Barclays, Goldman Sachs & Co., HSBC Securities.
The bank is based in Strasbourg, France.
| Issuer: | Banque Federative du Credit Mutuel
|
| Issue: | Notes
|
| Amount: | $1.5 billion
|
| Joint bookrunners: | Barclays, Goldman Sachs & Co., HSBC Securities
|
| Trade date: | Jan. 14
|
| Settlement date: | Jan. 20
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: A
|
| Fitch: A+
|
|
|
| Floaters due 2017
|
| Amount: | $600 million
|
| Maturity: | Jan. 20, 2017
|
| Coupon: | Libor plus 85 bps
|
| Price: | Par
|
| Yield: | Libor plus 85 bps
|
|
|
| Notes due 2017
|
| Amount: | $500 million
|
| Maturity: | Jan. 20, 2017
|
| Coupon: | 1.7%
|
| Spread: | Treasuries plus 95 bps
|
| Price talk: | Treasuries plus 95 bps area
|
|
|
| Notes due 2019
|
| Amount: | $400 million
|
| Maturity: | Jan. 22, 2019
|
| Coupon: | 2.75%
|
| Spread: | Treasuries plus 115 bps
|
| Price talk: | Treasuries plus 115 bps area
|
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