By Cristal Cody
Tupelo, Miss., April 6 – Credit Suisse AG, New York Branch sold $3 billion of senior notes (A1/A+) in two parts on Monday, according to a market source and an FWP filing with the Securities and Exchange Commission.
The company sold $1.5 billion of 2.8% two-year notes at 99.996 to yield 2.802% and a spread of Treasuries plus 255 basis points.
A $1.5 billion tranche of 2.95% five-year notes priced at 99.829 to yield 2.987%, or a 255 bps over Treasuries spread.
Both tranches were talked at the Treasuries plus 300 bps area.
Credit Suisse Securities (USA) LLC was the bookrunner.
Proceeds will be used for general corporate purposes.
The New York branch is part of Zurich-based financial services company Credit Suisse Group AG.
| Issuer: | Credit Suisse AG, New York Branch
|
| Amount: | $3 billion
|
| Description: | Senior notes
|
| Bookrunner: | Credit Suisse Securities (USA) LLC
|
| Co-managers: | Samuel A. Ramirez & Co., Inc., Academy Securities, Inc. and R. Seelaus & Co., LLC
|
| Trade date: | April 6
|
| Settlement date: | April 9
|
| Ratings: | Moody’s: A1
|
| S&P: A+
|
| Distribution: | SEC registered
|
|
|
| Two-year notes
|
| Amount: | $1.5 billion
|
| Maturity: | April 8, 2022
|
| Coupon: | 2.8%
|
| Price: | 99.996
|
| Yield: | 2.802%
|
| Spread: | Treasuries plus 255 bps
|
| Price guidance: | Treasuries plus 300 bps area
|
|
|
| Five-year notes
|
| Amount: | $1.5 billion
|
| Maturity: | April 8, 2025
|
| Coupon: | 2.95%
|
| Price: | 99.829
|
| Yield: | 2.987%
|
| Spread: | Treasuries plus 255 bps
|
| Price guidance: | Treasuries plus 300 bps area
|
|
|
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