By Cristal Cody
Chicago, Jan. 3 – GA Global Funding Trust priced $1.1 billion of notes in two parts on Monday, according to a market source.
The offer was split evenly between two $550 million tranches.
The shorter-dated five-year tranche priced with a 2.25% coupon and a spread of Treasuries plus 90 basis points, 15 bps low to talk in the 105 bps area.
A 10-year tranche priced with a 2.9% coupon, or with a spread of 130 bps over Treasuries versus talk in the Treasuries plus 145 bps area.
BNP Paribas Securities Corp., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Wells Fargo Securities LLC are the bookrunners.
The issuer is a special purpose statutory trust in Delaware.
| Issuer: | GA Global Funding Trust
|
| Amount: | $1.1 billion
|
| Issue: | Notes
|
| Bookrunners: | BNP Paribas Securities Corp., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Wells Fargo Securities LLC
|
| Trade date: | Jan. 3
|
|
|
| Five-year notes
|
| Amount: | $550 million
|
| Maturity: | Jan. 6, 2027
|
| Coupon: | 2.25%
|
| Spread: | Treasuries plus 90 bps
|
| Price talk: | Treasuries plus 105 bps area
|
|
|
| 10-year notes
|
| Amount: | $550 million
|
| Maturity: | Jan. 6, 2032
|
| Coupon: | 2.9%
|
| Spread: | Treasuries plus 130 bps
|
| Price talk: | Treasuries plus 145 bps area
|
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