By Devika Patel
Knoxville, Tenn., March 9 – The Federal Home Loan Bank System sold $3 billion of 1.375% two-year Global Notes at 99.768 to yield 1.492% on Thursday, according to a news release.
The notes priced with a spread of 12.5 basis points over Treasuries.
Barclays, Citigroup Global Markets Inc. and Wells Fargo Securities LLC were the bookrunners.
The notes were distributed globally with 79% going to U.S. investors, 19% to Asia and 2% to investors in other countries.
The bulk, 50%, went to investment advisors/fund managers, while 17% went to central banks. Financial institutions took 11% of the notes, insurance and pension funds bought 3%, state/local governments purchased 16% and the remaining 3% went to other investor types.
The government-sponsored banks for financial institutions are based in Washington, D.C.
| Issuer: | Federal Home Loan Bank System
|
| Amount: | $3 billion
|
| Description: | Global Notes
|
| Maturity: | March 18, 2019
|
| Bookrunners: | Barclays, Citigroup Global Markets Inc. and Wells Fargo Securities LLC
|
| Co-managers: | Deutsche Bank Securities Inc., FTN Financial Securities Corp., HSBC Securities (USA) Inc., BofA Merrill Lynch, Morgan Stanley & Co. LLC, Nomura Securities and TD Securities (USA) LLC
|
| Coupon: | 1.375%
|
| Price: | 99.768
|
| Yield: | 1.492%
|
| Spread: | Treasuries plus 12.5 bps
|
| Trade date: | March 9
|
| Settlement date: | March 10
|
| Distribution: | Global
|
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