By Cristal Cody
Tupelo, Miss., May 3 – Guardian Life Global Funding placed $400 million of 2.5% five-year notes with a spread of 70 basis points over Treasuries on Wednesday, a market source said.
The notes (Aa2/AA+) priced on the tight side of guidance in the Treasuries plus 73 bps area, plus or minus 3 bps.
Deutsche Bank Securities Inc., Goldman Sachs & Co. and J.P. Morgan Securities LLC were the lead managers.
Guardian Life Global Funding is a financing arm of New York City-based Guardian Life Insurance Company of America.
| Issuer: | Guardian Life Global Funding
|
| Amount: | $400 million
|
| Maturity: | May 8, 2022
|
| Securities: | Notes
|
| Bookrunners: | Deutsche Bank Securities Inc., Goldman Sachs & Co. and J.P. Morgan Securities LLC
|
| Coupon: | 2.5%
|
| Spread: | Treasuries plus 70 bps
|
| Trade date: | May 3
|
| Ratings: | Moody’s: Aa2
|
| S&P: AA+
|
| Price talk: | Treasuries plus 73 bps area, plus or minus 3 bps
|
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