By Cristal Cody
Tupelo, Miss., Nov. 30 – National Securities Clearing Corp. (Aaa/AA+) priced $1.75 billion of senior notes in two tranches on Monday, according to a market source.
The company sold $1 billion of 0.4% three-year notes at a spread of 25 basis points over Treasuries.
Initial price talk was in the Treasuries plus 45 bps area.
A $750 million tranche of 0.75% five-year notes was sold with a Treasuries plus 45 bps spread.
The notes were talked to print in the 65 bps over Treasuries area.
J.P. Morgan Securities, LLC, RBC Capital Markets, LLC and Wells Fargo Securities, LLC were the bookrunners.
The subsidiary of New York-based Depository Trust & Clearing Corp. provides clearing and settlement services to the financial industry.
| Issuer: | National Securities Clearing Corp.
|
| Amount: | $1.75 billion
|
| Description: | Senior notes
|
| Bookrunners: | J.P. Morgan Securities, LLC, RBC Capital Markets, LLC and Wells Fargo Securities, LLC
|
| Trade date: | Nov. 30
|
| Ratings: | Moody’s: Aaa
|
| S&P: AA+
|
|
|
| Three-year notes
|
| Amount: | $1 billion
|
| Maturity: | Dec. 7, 2023
|
| Coupon: | 0.4%
|
| Spread: | Treasuries plus 25 bps
|
| Price guidance: | Treasuries plus 45 bps area
|
|
|
| Five-year notes
|
| Amount: | $750 million
|
| Maturity: | Dec. 7, 2025
|
| Coupon: | 0.75%
|
| Spread: | Treasuries plus 45 bps
|
| Price guidance: | Treasuries plus 65 bps area
|
|
|
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