By Andrea Heisinger
New York, May 19 - BB&T Corp. reopened two tranches of medium-term notes (A1/A+/AA-) that are not guaranteed by the Federal Deposit Insurance Corp. to add $251 million, according to an FWP filing with the Securities and Exchange Commission.
The issuer added $110 million to the issue of 5.7% five-year notes priced at 99.425 to yield 5.835%, or Treasuries plus 385 basis points. Total issuance is $510 million, including $400 million issued April 27.
BB&T also added $141 million of 6.85% 10-year notes priced at 98.395 to yield 7.077%, or Treasuries plus 395 bps. Total issuance is $541 million, which includes $400 million issued April 27.
Both tranches are non-callable.
The bookrunner was BB&T Capital Markets.
The holding company for Branch Banking and Trust Co. is based in Winston-Salem, N.C.
| Issuer: | BB&T Corp.
|
| Issue: | Medium-term notes, non-FDIC, reopened
|
| Total amount: | $251 million
|
| Bookrunner: | BB&T Capital Markets
|
| Trade date: | May 15
|
| Settlement date: | May 22
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A+
|
| Fitch: AA-
|
|
|
| Five-year notes
|
| Amount: | $110 million
|
| Maturity: | April 30, 2014
|
| Coupon: | 5.7%
|
| Price: | 99.425
|
| Yield: | 5.835%
|
| Spread: | Treasuries plus 385 bps
|
| Call: | Non-callable
|
| Total issuance: | $510 million, including $400 million issued April 27
|
|
|
| 10-year notes
|
| Amount: | $141 million
|
| Maturity: | April 30, 2019
|
| Coupon: | 6.85%
|
| Price: | 98.395
|
| Yield: | 7.077%
|
| Spread: | Treasuries plus 395 bps
|
| Call: | Non-callable
|
| Total issuance: | $541 million, including $400 million issued April 27
|
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