By Cristal Cody
Tupelo, Miss., June 29 – Metropolitan Life Global Funding I priced $750 million of 0.95% five-year green funding agreement-backed notes (Aa3/AA-/AA-) on Monday at a spread of Treasuries plus 70 basis points, according to a market source.
The notes were initially talked to print in the Treasuries plus 90 bps area.
BofA Securities, Inc., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC were the bookrunners.
The issuer is a financing arm of New York City-based insurance and employee benefits company MetLife Inc.
| Issuer: | Metropolitan Life Global Funding I
|
| Amount: | $750 million
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| Description: | Green funding agreement-backed notes
|
| Maturity: | July 2, 2025
|
| Bookrunners: | BofA Securities, Inc., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC
|
| Coupon: | 0.95%
|
| Spread: | Treasuries plus 70 bps
|
| Trade date: | June 29
|
| Ratings: | Moody’s: Aa3
|
| S&P: AA-
|
| Fitch: AA-
|
| Distribution: | Rule 144A and Regulation S
|
| Price guidance: | Treasuries plus 90 bps area
|
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