New Issue: BB&T sells $1.25 billion 2.05% five-year notes with 87.5 bps spread

By Cristal Cody

Eureka Springs, Ark., May 5 – BB&T Corp. priced $1.25 billion of 2.05% five-year senior medium-term notes (A1/A-/A+) at 99.896 to yield 2.072% on Thursday, according to an FWP filing with the Securities and Exchange Commission.

The series E notes priced with a spread of 87.5 basis points over Treasuries.

BB&T Capital Markets, Deutsche Bank Securities, Inc., Goldman Sachs & Co. and Wells Fargo Securities LLC were the bookrunners.

Proceeds will be used for general corporate purposes.

The bank and financial services company is based in Winston-Salem, N.C.

Issuer:	BB&T Corp.
Amount:	$1.25 billion
Maturity:	May 10, 2021
Securities:	Senior medium-term notes
Bookrunners:	BB&T Capital Markets, Deutsche Bank Securities, Inc., Goldman Sachs & Co., Wells Fargo Securities LLC
Co-managers:	Drexel Hamilton, LLC, Mischler Financial Group, Inc., Samuel A. Ramirez & Co., Inc.
Coupon:	2.05%
Price:	99.896
Yield:	2.072%
Spread:	Treasuries plus 87.5 bps
Call feature:	April 9, 2021 and thereafter at par plus accrued interest
Pricing date:	May 5
Settlement date:	May 10
Ratings:	Moody’s: A2
	S&P: A-
	Fitch: A+
Distribution:	SEC registered

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