By Rebecca Melvin and Cristal Cody
Concord, N.H., April 1 – GA Global Funding Trust sold an upsized $600 million of 1% three-year notes backed by funding agreements on Wednesday, according to a market source.
The deal was initially talked at $400 million in size.
Pricing came at Treasuries plus 70 basis points, which was at the tight end of initial price talk for yield in the Treasuries plus 75 bps area.
BMO Capital Markets Corp., Citigroup Global Markets Inc., KeyBanc Capital Markets Inc. and Wells Fargo Securities LLC were the bookrunners.
The issuer is a special purpose statutory trust in Delaware.
| Issuer: | GA Global Funding Trust
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| Amount: | $600 million, upsized from $400 million
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| Description: | FA-backed notes
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| Maturity: | April 8, 2024
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| Bookrunners: | BMO Capital Markets Corp., Citigroup Global Markets Inc., KeyBanc Capital Markets Inc. and Wells Fargo Securities LLC
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| Coupon: | 1%
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| Spread: | Treasuries plus 70 bps
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| Trade date: | March 31
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| Settlement date: | April 8
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| Price talk: | Treasuries plus 75 bps area
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