By Andrea Heisinger
New York, Nov. 3 - Reinsurance Group of America, Inc. priced an upsized $400 million of 6.45% 10-year senior unsecured notes on Tuesday at Treasuries plus 300 basis points, an informed source said.
The deal amount was originally set at $300 million.
The notes (Baa1/A-/BBB+) priced at 99.83 to yield 6.473%. They have a make-whole redemption at 45 bps over Treasuries.
Barclays Capital and UBS Investment Bank were bookrunners.
Proceeds are going for general corporate purposes.
The provider of life reinsurance is based in St. Louis.
| Issuer: | Reinsurance Group of America, Inc.
|
| Issue: | Senior unsecured notes
|
| Amount: | $400 million, increased from $300 million
|
| Maturity: | Nov. 15, 2019
|
| Bookrunners: | Barclays Capital, UBS Investment Bank
|
| Coupon: | 6.45%
|
| Price: | 99.83
|
| Yield: | 6.473%
|
| Spread: | Treasuries plus 300 bps
|
| Call: | Make-whole at Treasuries plus 45 bps
|
| Trade date: | Nov. 3
|
| Settlement date: | Nov. 6
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: A-
|
| Fitch: BBB+
|
© 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.
