Published on 1/19/2023 in the Prospect News Investment Grade Daily.
New Issue: Cooperatieve Rabobank sells $1 billion 5% preferred senior notes due 2025
By Cristal Cody
Chicago, Jan. 19 – Cooperatieve Rabobank UA sold $1 billion of 5% preferred senior notes with a two-year tenor, according to a source.
The notes priced at Treasuries plus 65 basis points. Initial talk was in the Treasuries plus 80 bps area.
Cooperatieve Rabobank, Barclays, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and RBC Capital Markets LLC were the bookrunners.
The bank and financial services company is based in Utrecht, Netherlands.
Issuer: | Cooperatieve Rabobank UA
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Amount: | $1 billion
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Issue: | Preferred senior notes
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Maturity: | Jan. 13, 2025
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Bookrunners: | Cooperatieve Rabobank, Barclays, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and RBC Capital Markets LLC
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Coupon: | 5%
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Spread: | Treasuries plus 65 bps
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Trade date: | Jan. 4
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Price talk: | Treasuries plus 80 bps area
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