MetLife Global Funding I eyes notes in three tranches due 2024, 2031

By Devika Patel and Cristal Cody

Knoxville, Tenn., Jan. 4 – Metropolitan Life Global Funding I will offer notes in one floating-rate tranche and two fixed-rate tranches, according to a market source.

The floaters due Jan. 7, 2024 are talked at SOFR plus a spread.

A tranche of notes due Jan. 7, 2024 is talked in the 40 basis points area over Treasuries, and a tranche of notes due Jan. 7, 2031 is talked with a spread in the 87.5 bps area.

J.P. Morgan Securities LLC, Mizuho Securities USA Inc., TD Securities (USA) LLC and U.S. Bancorp Investments Inc. are the bookrunners.

The issuer is a financing arm of New York-based insurance and employee benefits company MetLife Inc.

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