By Cristal Cody
Chicago, Jan. 6 – BNP Paribas SA sold $1.25 billion of 4.625% perpetual additional tier 1 notes at par, according to a market source.
The notes come with call protection until Jan. 12, 2027.
The fixed coupon resets to Treasuries plus 319.6 basis points.
Pricing tightened from revised talk in the 4.75% area after earlier talk for a yield in the 4.875% to 5% area.
BNP Paribas was the bookrunner for the Rule 144A and Regulation S deal.
BNP Paribas is a Paris-based banking and financial services company.
| Issuer: | BNP Paribas SA
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| Amount: | $1.25 billion
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| Issue: | Additional tier 1 notes
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| Maturity: | Perpetual
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| Bookrunner: | BNP Paribas
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| Coupon: | 4.625%, resets to Treasuries plus 319.6 bps
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| Price: | Par
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| Yield: | 4.625%
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| Call features: | Five years
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| Trade date: | Jan. 5
|
| Price talk: | Revised to 4.75%; earlier talk in 4.875% to 5% area
|
| Distribution: | Rule 144A and Regulation S
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