By Aleesia Forni
New York, March 23 – BNP Paribas priced $1.5 billion of 7.625% additional tier 1 perpetual notes (Ba1/BBB-/BBB-) on Wednesday at par, according to an informed source.
Pricing was at the tight end of price talk that was set in the 7.75% area.
BNP Paribas Securities Corp. was the bookrunner.
The financial services company is based in Paris.
| Issuer: | BNP Paribas
|
| Amount: | $1.5 billion
|
| Description: | Additional tier 1 notes
|
| Maturity: | Perpetual
|
| Bookrunner: | BNP Paribas Securities Corp.
|
| Coupon: | 7.625%
|
| Price: | Par
|
| Yield: | 7.625%
|
| Trade date: | March 23
|
| Settlement date: | March 30
|
| Ratings: | Moody’s: Ba1
|
| Standard & Poor’s: BBB-
|
| Fitch: BBB-
|
| Distribution: | Rule 144A, Regulation S
|
| Price guidance: | 7.75% area
|
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