Equitable Financial plans to sell FA-backed three-, five-year notes; price talk emerges

By Cristal Cody

Chicago, Nov. 8 – Equitable Holdings, Inc. subsidiary Equitable Financial Life Global Funding is laying the groundwork for an offering of new funding agreement-backed notes in two parts, according to a market source.

The company is planning to sell notes due Nov. 12, 2024 with a spread talked in the Treasuries plus 60 basis points area.

A longer dated tranche due Nov. 12, 2026 has talk in the Treasuries plus 80 bps area.

Barclays, Citigroup Global Markets Inc., Morgan Stanley & Co. LLC and PNC Capital Markets LLC are listed as bookrunners.

Equitable Holdings, formerly known as AXA Equitable Holdings, Inc., is a New York-based insurance holding company.

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