By Cristal Cody
Eureka Springs, Ark., Jan. 26 – Capital One, NA priced $2 billion of senior bank notes (Baa1/BBB+/A-) in two parts on Thursday, according to a market source.
The company sold $1.5 billion of 2.35% three-year notes at 99.94 to yield 2.371%, or Treasuries plus 88 basis points.
A $500 million tranche of six-year floating-rate notes priced at par to yield Libor plus 115 bps.
Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Wells Fargo Securities LLC were the lead managers.
Proceeds will be used for general corporate purposes.
Capital One is a subsidiary of McLean, Va.-based Capital One Financial Corp.
| Issuer: | Capital One, NA
|
| Amount: | $2 billion
|
| Description: | Senior bank notes
|
| Bookrunners: | Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Wells Fargo Securities LLC
|
| Trade date: | Jan. 26
|
| Ratings: | Moody’s: Baa1
|
| S&P: BBB+
|
| Fitch: A-
|
|
|
| Three-year notes
|
| Amount: | $1.5 billion
|
| Maturity: | Jan. 31, 2020
|
| Coupon: | 2.35%
|
| Price: | 99.94
|
| Yield: | 2.371%
|
| Spread: | Treasuries plus 88 bps
|
|
|
| Six-year floaters
|
| Amount: | $500 million
|
| Maturity: | Jan. 30, 2023
|
| Coupon: | Libor plus 115 bps
|
| Price: | Par
|
| Yield: | Libor plus 115 bps
|
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