By Cristal Cody
Chicago, Jan. 25 – CDP Financial Inc. priced $1.5 billion of 1.75% five-year senior notes on Tuesday, according to a market source.
The Rule 144A and Regulation S deal priced with a spread of 39 basis points over SOFR mid-swaps, or at Treasuries plus 24.1 bps.
Guidance had tightened to SOFR mid-swaps plus 39 bps from initial price talk in the SOFR mid-swaps plus 40 bps area.
BofA, BMO, Deutsche Bank and JPMorgan are the bookrunners.
CDP Financial is a Montreal-based financing arm of La Caisse de depot et placement du Quebec, a public and parapublic pension plan and insurance program manager.
| Issuer: | CDP Financial Inc.
|
| Amount: | $1.5 billion
|
| Issue: | Senior notes
|
| Maturity: | Feb. 1, 2027
|
| Bookrunners: | BofA, BMO, Deutsche Bank and JPMorgan
|
| Coupon: | 1.75%
|
| Spread: | SOFR mid-swaps plus 39 bps
|
| Trade date: | Jan. 25
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Guided to SOFR mid-swaps plus 39 bps; initial price in the SOFR mid-swaps plus 40 bps area
|
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