By Cristal Cody
Tupelo, Miss., Dec. 8 – Guardian Life Global Funding priced an upsized $500 million of 0.875% five-year notes (Aa2/AA+) backed by funding agreements on Monday at a spread of Treasuries plus 50 basis points, according to a market source.
Initial price talk was at the Treasuries plus 65 bps area.
The deal was upsized from $350 million.
BofA Securities, Inc., Deutsche Bank Securities Inc. and Goldman Sachs & Co. LLC were the bookrunners.
Guardian Life Global Funding is a financing arm of New York City-based Guardian Life Insurance Co. of America.
| Issuer: | Guardian Life Global Funding
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| Amount: | $500 million
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| Maturity: | Dec. 10, 2025
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| Securities: | FA-backed notes
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| Bookrunners: | BofA Securities, Inc., Deutsche Bank Securities Inc. and Goldman Sachs & Co. LLC
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| Coupon: | 0.875%
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| Spread: | Treasuries plus 50 bps
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| Trade date: | Dec. 7
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| Ratings: | Moody’s: Aa2
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| S&P: AA+
|
| Distribution: | Rule 144A and Regulation S
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| Price talk: | Treasuries plus 65 bps area
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