By Marisa Wong and Cristal Cody
Los Angeles, April 6 – Equitable Holdings, Inc. subsidiary Equitable Financial Global Funding priced $1 billion of notes due April 6, 2023 (A2/A+) in two tranches on Monday, according to a market source.
Equitable Financial priced a $650 million floating-rate tranche at SOFR plus 39 basis points, matching guidance.
The offering also includes a $350 million fixed-rate tranche priced at Treasuries plus 35 bps after initial price talk in the high 40 or 47.5 bps area.
BofA Securities Inc., Barclays, Citigroup Global Markets Inc. and HSBC Securities (USA) Inc. are leading the deal.
Equitable Holdings is a New York-based insurance holding company.
| Issuer: | Equitable Financial Global Funding
|
| Issue: | Notes
|
| Amount: | $1 billion
|
| Maturity: | April 6, 2023
|
| Bookrunners: | BofA Securities Inc., Barclays, Citigroup Global Markets Inc. and HSBC Securities (USA) Inc.
|
| Pricing date: | April 5
|
| Ratings: | Moody’s: A2
|
| S&P: A+
|
|
|
| Floating-rate notes
|
| Amount: | $650 million
|
| Coupon: | SOFR plus 39 bps
|
| Price talk: | SOFR plus 39 bps
|
|
|
| Fixed-rate notes
|
| Amount: | $350 million
|
| Spread: | Treasuries plus 35 bps
|
| Initial price talk: | High 40 or 47.5 bps area
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
