By Mary-Katherine Stinson and Cristal Cody
Lexington, Ky., March 22 – Athene Global Funding sold $1.4 billion over two tranches of notes backed by funding agreements on Thursday, a market source reported.
Athene sold $400 million of floating-rate notes with a coupon of SOFR plus 121 basis points. Initial price talk was SOFR plus equivalent.
The deal included a second tranche of $1 billion of 5.516% notes due 2027. The notes priced with a spread of Treasuries plus 110 bps, after initial price talk in the 125 bps area.
BofA Securities Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC were the bookrunners.
Athene Global Funding is a financing arm of Pembroke, Bermuda-based retirement services company Athene Holding Ltd.
| Issuer: | Athene Global Funding
|
| Amount: | $1.4 billion
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| Issue: | Funding agreement-backed notes
|
| Bookrunners: | BofA Securities Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC
|
| Pricing date: | March 21
|
|
|
| 2027 floaters
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| Amount: | $400 million
|
| Maturity: | March 25, 2027
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| Coupon: | SOFR plus 121 bps
|
| Initial price talk: | SOFR plus equivalent
|
|
|
| 2027 notes
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| Amount: | $1 billion
|
| Maturity: | March 25, 2027
|
| Coupon: | 5.516%
|
| Spread: | Treasuries plus 110 bps
|
| Initial price talk: | Treasuries plus 125 bps area
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