By Cristal Cody
Tupelo, Miss., June 29 – AIG Global Funding priced an upsized $500 million of 0.8% three-year senior secured notes (A2/A+) at a spread of 65 basis points over Treasuries on Monday, according to a market source.
Price guidance was in the 90 bps spread area with guidance firmed to the 70 bps area, plus or minus 5 bps.
The offering was upsized from $350 million.
Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC were the bookrunners of the Rule 144A and Regulation S deal.
AIG Global Funding is a financing arm of Houston-based American General Life Insurance Co., Inc.
| Issuer: | AIG Global Funding
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| Amount: | $500 million
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| Description: | Senior secured notes
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| Maturity: | July 7, 2023
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| Bookrunners: | Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC
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| Coupon: | 0.8%
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| Spread: | Treasuries plus 65 bps
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| Trade date: | June 29
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| Ratings: | Moody’s: A2
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| S&P: A+
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| Distribution: | Rule 144A and Regulation S
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| Price guidance: | Treasuries plus 70 bps area, plus or minus 5 bps; initial talk at Treasuries plus 90 bps area
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