Published on 1/12/2024 in the Prospect News Investment Grade Daily.
New Issue: Corebridge prices $600 million 5.2% FA-backed notes due 2029
By Cristal Cody
Chicago, Jan. 12 – Corebridge Financial, Inc. priced $600 million of 5.2% funding agreement-backed notes with a five-year tenor, according to a market source.
Pricing came at Treasuries plus 123 basis points, down from talk in the 150 bps area.
BofA Securities, Inc., Deutsche Bank Securities Inc. and Goldman Sachs & Co. LLC were bookrunners.
Corebridge is a Houston-based financial services company that formed after a spinoff from AIG in 2022.
| Issuer: | Corebridge Financial, Inc.
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| Amount: | $600 million
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| Issue: | FA-backed notes
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| Maturity: | Jan. 12, 2029
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| Bookrunners: | BofA Securities, Inc., Deutsche Bank Securities Inc. and Goldman Sachs & Co. LLC
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| Coupon: | 5.2%
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| Spread: | Treasuries plus 123 bps
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| Trade date: | Jan. 9
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| Price talk: | Treasuries plus 150 bps area
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