New Issue: Citizens Bank sells $1 billion 2.55% five-year senior notes at 99.907

By Cristal Cody

Eureka Springs, Ark., May 10 – Citizens Bank, NA sold $1 billion of 2.55% five-year senior notes (Baa1/A-/BBB+) at 99.907 on Tuesday, according to a company news release.

Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC were the bookrunners.

The bank intends to use the proceeds for general corporate purposes.

Citizens Bank is part of Providence, R.I.-based Citizens Financial Group, Inc.

Issuer:	Citizens Bank, NA
Amount:	$1 billion
Maturity:	May 13, 2021
Securities:	Senior notes
Bookrunners:	Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC
Co-manager:	Citizens Capital Markets Inc.
Coupon:	2.55%
Price:	99.907
Pricing date:	May 10
Settlement date:	May 13
Ratings:	Moody’s: Baa1
	S&P: A-
	Fitch: BBB+

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