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New York Life plans two-part offering of FA-backed notes due 2026
By Cristal Cody
Chicago, June 2 – New York Life Global Funding is marketing a two-part offering of funding agreement-backed notes due June 9, 2026, packaged as a floating-rate part and a fixed-rate tranche, a market source reported.
The floating-rate tranche will be based on a spread over SOFR.
The fixed-rate part is being talked in the Treasuries plus 55 basis points area.
Barclays, Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are the bookrunners.
New York Life Global is a unit of New York-based mutual insurance company New York Life Insurance Co.
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