By Cristal Cody
Chicago, July 7 – Equitable Holdings, Inc. subsidiary Equitable Financial Life Global Funding sold a $500 million offering of five-year funding agreement-backed notes with a 1.3% coupon, according to a market source.
The notes priced with a Treasuries plus 55 basis points spread, low to initial price talk in the low 70 bps area.
BofA Securities, Inc., BNP Paribas Securities Corp. and J.P. Morgan Securities LLC were the bookrunners.
Equitable Holdings, formerly known as AXA Equitable Holdings, Inc., is a New York-based insurance holding company.
| Issuer: | Equitable Financial Life Global Funding
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| Issue: | Funding-agreement backed notes
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| Amount: | $500 million
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| Maturity: | July 12, 2026
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| Bookrunners: | BofA Securities, Inc., BNP Paribas Securities Corp. and J.P. Morgan Securities LLC
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| Coupon: | 1.3%
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| Spread: | Treasuries plus 55 bps
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| Trade date: | July 7
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| Price talk: | Treasuries plus low 70 bps area
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