By Andrea Heisinger
New York, Aug. 7 - BB&T Corp. priced $750 million of 1.6% five-year series C medium-term senior notes on Tuesday at a spread of Treasuries plus 93 basis points, a market source said.
The deal size was increased from $500 million.
The notes (A2/A-/A+) were sold at 99.818 to yield 1.638%.
There is a par call option on or after July 14, 2017.
BB&T Capital Markets, Deutsche Bank Securities Inc. and UBS Securities LLC ran the books.
Proceeds will be used for general corporate purposes.
The bank and financial services company is based in Winston-Salem, N.C.
| Issuer: | BB&T Corp.
|
| Issue: | Series C medium-term senior notes
|
| Amount: | $750 million, increased from $500 million
|
| Maturity: | Aug. 15, 2017
|
| Bookrunners: | BB&T Capital Markets, Deutsche Bank Securities Inc., UBS Securities LLC
|
| Coupon: | 1.6%
|
| Price: | 99.818
|
| Yield: | 1.638%
|
| Spread: | Treasuries plus 93 bps
|
| Call: | Par call on or after July 14, 2017
|
| Trade date: | Aug. 7
|
| Settlement date: | Aug. 14
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A-
|
| Fitch: A+
|
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