By Andrea Heisinger
Omaha, Aug. 28 - Capital One Financial Corp. priced $1.5 billion 10-year 6.75% senior notes to yield 225 basis points more than Treasuries on Tuesday, a market source said.
The notes (A3/BBB+/A-) have a price of 99.716.
Bookrunners were Citigroup Global Markets Inc. and Barclays Capital Inc.
The notes carry no redemption option.
Proceeds will be used for general corporate purposes that may include the repurchase of shares of the company's common stock.
Capital One is a diversified financial services company based in McLean, Va.
| Issuer: | Capital One Financial Corp.
|
| Amount: | $1.5 billion
|
| Tenor: | 10 years
|
| Security description: | Senior notes
|
| Bookrunners: | Citigroup Global Markets Inc., Barclays Capital Inc.
|
| Coupon: | 6.75%
|
| Price: | 99.716
|
| Spread: | Treasuries plus 225 bps
|
| Call: | None
|
| Trade date: | Aug. 28
|
| Settlement date: | Sept. 4
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: BBB+
|
| Fitch: A-
|
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