By Cristal Cody
Chicago, Nov. 8 – Equitable Holdings, Inc. subsidiary Equitable Financial Life Global Funding sold $1 billion of funding-agreement backed notes in two equal parts on Monday, according to a market source.
One part priced as $500 million of 1.1% three-year notes at Treasuries plus 38 basis points.
The notes came low to talk in the Treasuries plus 60 bps area.
The longer dated tranche with a five-year tenor priced as $500 million of 1.7% notes for a spread of Treasuries plus 60 bps, low to talk in the 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.
| Issuer: | Equitable Financial Life Global Funding
|
| Issue: | Funding-agreement backed notes
|
| Amount: | $1 billion
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| Bookrunners: | Barclays, Citigroup Global Markets Inc., Morgan Stanley & Co. LLC and PNC Capital Markets LLC
|
| Trade date: | Nov. 8
|
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| Three-year notes
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| Amount: | $500 million
|
| Maturity: | Nov. 12, 2024
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| Coupon: | 1.1%
|
| Spread: | Treasuries plus 38 bps
|
| Price talk: | Treasuries plus 60 bps area
|
|
|
| Five-year notes
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| Amount: | $500 million
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| Maturity: | Nov. 12, 2026
|
| Coupon: | 1.7%
|
| Spread: | Treasuries plus 60 bps
|
| Price talk: | Treasuries plus 80 bps area
|
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