By Cristal Cody
Tupelo, Miss., April 18 – Guardian Life Global Funding sold $300 million of 3.4% five-year notes (Aa2/AA+) at a spread of 70 basis points over Treasuries on Wednesday, a market source said.
The notes priced on the tight side of guidance in the Treasuries plus 70 bps to 72 bps area.
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 Co. of America.
| Issuer: | Guardian Life Global Funding
|
| Amount: | $300 million
|
| Maturity: | April 25, 2023
|
| Securities: | Notes
|
| Bookrunners: | Deutsche Bank Securities Inc., Goldman Sachs & Co. and J.P. Morgan Securities LLC
|
| Coupon: | 3.4%
|
| Spread: | Treasuries plus 70 bps
|
| Trade date: | April 18
|
| Ratings: | Moody’s: Aa2
|
| S&P: AA+
|
| Price talk: | Treasuries plus 70 bps-72 bps area
|
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