By Aleesia Forni
Virginia Beach, May 28 – Comerica Inc. priced $500 million of 2.5% senior bank notes (A3/A/A) due June 2, 2020 on Thursday with a spread of Treasuries plus 100 basis points, according to a market source.
The notes sold at the tight end of price talk.
Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC were the joint bookrunners.
Proceeds will be used for general corporate purposes.
The financial services company is based in Dallas.
| Issuer: | Comerica Inc.
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| Amount: | $500 million
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| Description: | Senior bank notes
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| Maturity: | June 2, 2020
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| Bookrunners: | Deutsche Bank Securities Inc., J.P. Morgan Securities LLC
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| Coupon: | 2.5%
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| Spread: | Treasuries plus 100 bps
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| Trade date: | May 28
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| Ratings: | Moody’s: A3
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| Standard & Poor's: A
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| Fitch: A
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| Price talk: | Treasuries plus 100 bps to 105 bps
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