By Rebecca Melvin and Cristal Cody
Concord, N.H., June 22 – Brighthouse Financial Global Funding sold $900 million of notes in two series due in 2023 and 2028, according to a market source.
The notes are backed by a funding agreement.
The $450 million tranche of notes due June 28, 2023 priced to yield Treasuries plus 35 basis points. The pricing was below talk for yield in the Treasuries plus 60 bps area.
The $450 million tranche of notes due June 28, 2028 priced to yield Treasuries plus 78 bps. The pricing was below talk for yield in the Treasuries plus 105 bps area.
BofA Securities Inc., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC were the bookrunners for the deal.
Brighthouse is a Charlotte, N.C.-based insurance provider.
| Issuer: | Brighthouse Financial Global Funding
|
| Issue: | Funding agreement backed notes
|
| Amount: | $900 million
|
| Bookrunners: | BofA Securities Inc., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC
|
| Trade date: | June 21
|
|
|
| 2023 notes
|
| Amount: | $450 million
|
| Maturity: | June 28, 2023
|
| Spread: | Treasuries plus 35 bps
|
| Price talk: | Treasuries plus 60 bps area
|
|
|
| 2028 notes
|
| Amount: | $450 million
|
| Maturity: | June 28, 2028
|
| Spread: | Treasuries plus 78 bps
|
| Price talk: | Treasuries plus 105 bps area
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
