By Cristal Cody
Eureka Springs, Ark., Sept. 9 – MetLife Global Funding I priced $2 billion of notes in four tranches on Thursday, according to a market source.
The company sold $350 million of two-year floating-rate notes at Libor plus 34 basis points.
There also was a $550 million tranche of 1.25% two-year notes sold at 60 bps over Treasuries.
MetLife priced $350 million of 1.55% three-year notes at 70 bps over Treasuries.
The company also sold $750 million of 1.95% five-year notes a spread of 80 bps over Treasuries.
BofA Merrill Lynch, Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC were the bookrunners.
The issuer is a financing arm of New York City-based insurance and employee benefits company MetLife Inc.
| Issuer: | MetLife Global Funding I
|
| Amount: | $2 billion
|
| Description: | Notes
|
| Bookrunners: | BofA Merrill Lynch, Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC
|
| Trade date: | Sept. 8
|
| Ratings: | Moody’s: Aa3
|
| S&P: AA-
|
|
|
| Two-year floaters
|
| Amount: | $350 million
|
| Maturity: | Sept. 14, 2018
|
| Coupon: | Libor plus 34 bps
|
|
|
| Two-year notes
|
| Amount: | $550 million
|
| Maturity: | Sept. 14, 2018
|
| Coupon: | 1.35%
|
| Spread: | Treasuries plus 60 bps
|
|
|
| Three-year notes
|
| Amount: | $350 million
|
| Maturity: | Sept. 13, 2019
|
| Coupon: | 1.55%
|
| Spread: | Treasuries plus 70 bps
|
|
|
| Five-year notes
|
| Amount: | $750 million
|
| Maturity: | Sept. 15, 2021
|
| Coupon: | 1.95%
|
| Spread: | Treasuries plus 80 bps
|
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