By Cristal Cody
Tupelo, Miss., Aug. 21 – Athene Global Funding priced a $200 million reopening of its 2.75% senior secured notes (A/A) due June 25, 2024 on Tuesday at a spread of 115 basis points over Treasuries, a market source said.
Initial price talk was in the Treasures plus 125 bps area.
Deutsche Bank Securities Inc. and RBC Capital Markets, LLC were the bookrunners.
Athene sold $300 million of the notes on June 20 at a Treasuries plus 107 bps spread. The total outstanding is $500 million.
Athene Global Funding is a trust established to price debt secured by funding agreements issued by Athene Annuity & Life Insurance Co. and Athene Annuity and Life Co. The companies are subsidiaries of Pembroke, Bermuda-based Athene Holding Ltd.
| Issuer: | Athene Global Funding
|
| Amount: | $200 million reopening
|
| Description: | Senior secured notes
|
| Maturity: | June 25, 2024
|
| Bookrunners: | Deutsche Bank Securities Inc. and RBC Capital Markets, LLC
|
| Coupon: | 2.75%
|
| Spread: | Treasuries plus 115 bps
|
| Trade date: | Aug. 20
|
| Ratings: | S&P: A
|
| Fitch: A
|
| Price talk: | Treasuries plus 125 bps area
|
| Total outstanding: | $500 million, including $300 million of notes priced at Treasuries plus 107 bps
|
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