By Cristal Cody
Tupelo, Miss., Aug. 5 – BNP Paribas SA priced a $1.5 billion offering of 2.588% subordinated notes due Aug. 12, 2035 (Baa2/A-/BBB) on Wednesday at a spread of Treasuries plus 205 basis points, according to a market source.
Initial price talk was in the Treasuries plus 235 bps area.
BNP Paribas Securities Corp. was the bookrunner.
BNP Paribas is a Paris-based banking and financial services company.
| Issuer: | BNP Paribas SA
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| Amount: | $1.5 billion
|
| Description: | Subordinated notes
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| Maturity: | Aug. 12, 2035
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| Bookrunner: | BNP Paribas Securities Corp.
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| Coupon: | 2.588%
|
| Spread: | Treasuries plus 205 bps
|
| Call feature: | Callable after 10 years
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| Trade date: | Aug. 5
|
| Ratings: | Moody’s: Baa2
|
| S&P: A-
|
| Fitch: BBB
|
| Price talk: | Treasuries plus 235 bps area
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