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New York Life preps two-part offering of floaters, fixed-rate notes
By Cristal Cody
Chicago, April 20 – New York Life Global Funding is preparing a two-part offering comprised of a floating-rate and a fixed-rate tranche, according to a market source.
The insurer is planning to sell floating-rate notes due April 27, 2024 based on SOFR plus a spread.
Additionally, the issuer is readying a tranche of fixed-rate notes also due April 27, 2024 with talk in the Treasuries plus 40 basis points area.
Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, Loop Capital Markets LLC and U.S. Bancorp Investments Inc. are the bookrunners on the transaction.
New York Life Global is a unit of New York-based mutual insurance company New York Life Insurance Co.
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