By Cristal Cody
Tupelo, Miss., Aug. 7 – Associated Bank, NA (A3/BBB+/BBB+) sold $300 million of 3.5% three-year notes at a spread of 87.5 basis points over Treasuries on Monday, according to a market source.
The notes were guided to print in the Treasuries plus 90 bps area, plus or minus 2.5 bps, and were initially talked to price in the Treasuries plus 100 bps area.
Citigroup Global Markets Inc. and RBC Capital Markets, LLC were the bookrunners.
Associated Bank is a banking services company based in Green Bay, Wis., and a subsidiary of bank holding company Associated Banc-Corp.
| Issuer: | Associated Bank, NA
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| Amount: | $300 million
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| Description: | Notes
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| Maturity: | Aug. 13, 2021
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| Bookrunners: | Citigroup Global Markets Inc. and RBC Capital Markets, LLC
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| Coupon: | 3.5%
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| Spread: | Treasuries plus 87.5 bps
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| Trade date: | Aug. 6
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| Ratings: | Moody’s: A3
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| S&P: BBB+
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| Fitch: BBB+
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| Price talk: | Treasuries plus 90 bps area, plus or minus 2.5 bps; initial price talk at Treasuries plus 100 bps area
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