By Andrea Heisinger
New York, April 7 - MassMutual Global Funding LLC priced $650 million of notes (Aa2/AA+/AA+) in two parts on Thursday, a market source said.
A $250 million tranche of floating-rate notes due 2014 was priced at par to yield three-month Libor plus 38 basis points.
A $500 million tranche of 3.125% five-year notes priced to yield Treasuries plus 85 bps.
Both tranches were priced under Rule 144A.
Merrill Lynch and UBS Securities LLC ran the books.
The subsidiary of MassMutual Life Insurance Co. is based in the Cayman Islands.
| Issuer: | MassMutual Global Funding LLC
|
| Issue: | Notes
|
| Amount: | $650 million
|
| Bookrunners: | Merrill Lynch, UBS Securities LLC
|
| Distribution: | Rule 144A
|
| Trade date: | April 6
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA+
|
| Fitch: AA+
|
|
|
| Floaters due 2014
|
| Amount: | $250 million
|
| Maturity: | 2014
|
| Coupon: | Three-month Libor plus 38 bps
|
| Price: | Par
|
| Yield: | Three-month Libor plus 38 bps
|
| Call: | Non-callable
|
|
|
| Five-year notes
|
| Amount: | $400 million
|
| Maturity: | 2016
|
| Coupon: | 3.125%
|
| Spread: | Treasuries plus 85 bps
|
| Call: | Non-callable
|
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