By Cristal Cody
Tupelo, Miss., Oct. 17 – Nuveen, LLC (Aa2/BBB+/AA+) priced a $1 billion offering of 4% 10-year guaranteed senior notes on Wednesday at a spread of 90 basis points over Treasuries, according to a market source.
Price guidance on the Rule 144A and Regulation S notes was in the Treasuries plus 95 bps area, plus or minus 5 bps.
Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Wells Fargo Securities LLC were the bookrunners.
The company held fixed income investor calls for the deal on Tuesday.
Parent company Teachers Insurance and Annuity Association of America will guarantee the notes.
Nuveen is an asset management company based in Chicago.
| Issuer: | Nuveen, LLC
|
| Guarantor: | Teachers Insurance and Annuity Association of America
|
| Amount: | $1 billion
|
| Description: | Senior notes
|
| Maturity: | Nov. 1, 2028
|
| Bookrunners: | Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Wells Fargo Securities LLC
|
| Coupon: | 4%
|
| Spread: | Treasuries plus 90 bps
|
| Trade date: | Oct. 17
|
| Ratings: | Moody’s: Aa2
|
| S&P: BBB+
|
| Fitch: AA+
|
| Distribution: | Rule 144A and Regulation S
|
| Price guidance: | Treasuries plus 95 bps area, plus or minus 5 bps; initial talk at Treasuries plus 105 bps to 110 bps area
|
| Marketing: | Fixed income investor calls
|
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