By Andrea Heisinger
New York, Dec. 3 - Charles Schwab Corp. on Monday sold $350 million of 0.85% three-year senior notes (A2/A/A) at par to yield 52 basis points over Treasuries, an informed source said.
The trade was done at the tight end of price talk in the 55 bps area, the source said.
The notes feature a make-whole call at 10 bps over Treasuries.
Bookrunners were Citigroup Global Markets Inc. and Goldman Sachs & Co.
Proceeds will be used for general corporate purposes.
Schwab was last in the straight bond market with a $100 million reopening of 4.45% notes due 2020 on Aug. 5, 2010.
The brokerage, banking and financial services company is based in San Francisco.
| Issuer: | Charles Schwab Corp.
|
| Issue: | Senior notes
|
| Amount: | $350 million
|
| Maturity: | Dec. 4, 2015
|
| Bookrunners: | Citigroup Global Markets Inc., Goldman Sachs & Co.
|
| Co-managers: | Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, UBS Securities LLC, Wells Fargo Securities LLC
|
| Coupon: | 0.85%
|
| Price: | Par
|
| Yield: | 0.85%
|
| Spread: | Treasuries plus 52 bps
|
| Call: | Make-whole at Treasuries plus 10 bps
|
| Trade date: | Dec. 3
|
| Settlement date: | Dec. 6
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
| Fitch: A
|
| Price talk: | 55 bps area
|
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