By Cristal Cody
Tupelo, Miss., Jan. 29 – New York Life Global Funding priced $800 million of senior secured notes due Jan. 28, 2021 (Aaa/AA+) in two tranches on Tuesday, according to a market source.
The company sold $400 million of three-year floating-rate notes at Libor plus 28 basis points.
A $400 million tranche of 2.95% three-year fixed-rate notes priced at a spread of Treasuries plus 42 bps.
BofA Merrill Lynch, Morgan Stanley & Co. LLC and U.S. Bancorp Investments, Inc. were the bookrunners.
New York Life Global is a unit of New York-based mutual insurance company New York Life Insurance Co.
| Issuer: | New York Life Global Funding
|
| Amount: | $800 million
|
| Description: | Senior secured notes
|
| Bookrunners: | BofA Merrill Lynch, Morgan Stanley & Co. LLC and U.S. Bancorp Investments, Inc.
|
| Trade date: | Jan. 29
|
| Ratings: | Moody’s: Aaa
|
| S&P: AA+
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| Three-year floaters
|
| Amount: | $400 million
|
| Description: | Senior secured floating-rate notes
|
| Maturity: | Jan. 28, 2021
|
| Coupon: | Libor plus 28 bps
|
|
|
| Three-year notes
|
| Amount: | $400 million
|
| Description: | Senior secured fixed-rate notes
|
| Maturity: | Jan. 28, 2021
|
| Coupon: | 2.95%
|
| Spread: | Treasuries plus 42 bps
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
