By Aleesia Forni
Virginia Beach, Feb. 2 – Capital One Financial Corp. and Capital One NA sold $3 billion of notes in three parts during Monday’s session, according to a market source.
Capital One NA sold $400 million of three-year floating-rate senior bank notes (A3/BBB+/A-) at par to yield Libor plus 68 basis points and also priced $1.6 billion of 1.65% three-year senior bank notes at 99.98 to yield 1.657%, or Treasuries plus 90 bps.
The fixed-rate notes sold at the tight end of price talk.
Meanwhile, Capital One Financial sold $1 billion of 3.2% 10-year senior HoldCo notes at 99.754 to yield 3.229%, or Treasuries plus 157 bps.
The notes sold at the tight end of talk.
Bookrunners were Barclays, Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Capital One.
Proceeds will be used for general corporate purposes.
The financial services company is based in McLean, Va.
| Issuers: | Capital One Financial Corp. and Capital One NA
|
| Amount: | $3 billion
|
| Bookrunners: | Barclays, Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Capital One
|
| Trade date: | Feb. 2
|
| Settlement date: | Feb. 5
|
|
|
| Three-year floaters
|
| Issuer: | Capital One NA
|
| Issue: | Senior bank notes
|
| Amount: | $400 million
|
| Maturity: | 2018
|
| Coupon: | Libor plus 68 bps
|
| Price: | Par
|
| Yield: | Libor plus 68 bps
|
| Price talk: | Libor equivalent to three-year fixed-rate notes
|
| Ratings: | Moody’s: A3
|
| Standard & Poor’s: BBB+
|
| Fitch: A-
|
|
|
| Three-year fixed-rate notes
|
| Issuer: | Capital One NA
|
| Issue: | Senior bank notes
|
| Amount: | $1.6 billion
|
| Maturity: | 2018
|
| Coupon: | 1.65%
|
| Price: | 99.98
|
| Yield: | 1.657%
|
| Spread: | Treasuries plus 90 bps
|
| Price talk: | 93 bps area
|
| Ratings: | Moody’s: A3
|
| Standard & Poor’s: BBB+
|
| Fitch: A-
|
|
|
| 10-year notes
|
| Issuer: | Capital One Financial Corp.
|
| Issue: | Senior HoldCo notes
|
| Amount: | $1 billion
|
| Maturity: | 2025
|
| Coupon: | 3.2%
|
| Price: | 99.754
|
| Yield: | 3.229%
|
| Spread: | Treasuries plus 157 bps
|
| Price talk: | 160 bps area
|
| Ratings: | Moody’s: Baa1
|
| Standard & Poor’s: BBB
|
| Fitch: A-
|
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