New Issue: MetLife Global Funding sells $500 million 2.65% five-year notes at 78 bps spread

By Cristal Cody

Tupelo, Miss., April 3 – MetLife Global Funding I priced $500 million of 2.65% five-year notes (Aa3/AA-) on Monday at a spread of 78 basis points over Treasuries, according to a market source.

The notes priced on the tight side of guidance that was in the Treasuries plus 80 bps area, plus or minus 2 bps.

BofA Merrill Lynch, Credit Suisse Securities (USA) LLC, HSBC Securities (USA) Inc., Morgan Stanley & Co. LLC and Wells Fargo Securities LLC were the bookrunners.

The issuer is a financing arm of New York City-based insurance and employee benefits company MetLife Inc.

Issuer:	Metropolitan Life Global Funding I
Amount:	$500 million
Description:	Notes
Maturity:	April 8, 2022
Bookrunners:	BofA Merrill Lynch, Credit Suisse Securities (USA) LLC, HSBC Securities (USA) Inc., Morgan Stanley & Co. LLC and Wells Fargo Securities LLC
Coupon:	2.65%
Spread:	Treasuries plus 78 bps
Trade date:	April 3
Ratings:	Moody’s: Aa3
	S&P: AA-
Price guidance:	Treasuries plus 80 bps area, plus or minus 2 bps

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