By Cristal Cody
Tupelo, Miss., July 17 – Banque Federative du Credit Mutuel priced $1.5 billion of notes (Aa3/A/A+) in two tranches on Monday, according to a market source.
The bank sold $400 million of floating-rate notes due July 20, 2023 at Libor plus 96 basis points.
A $1.1 billion tranche of 3.75% five-year fixed-rate notes priced at a spread of Treasuries plus 110 bps.
Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC were the bookrunners.
The bank and financial services company is based in Strasbourg, France.
| Issuer: | Banque Federative du Credit Mutuel
|
| Amount: | $1.5 billion
|
| Description: | Notes
|
| Bookrunners: | Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC
|
| Trade date: | July 16
|
| Ratings: | Moody’s: Aa3
|
| S&P: A
|
| Fitch: A+
|
|
|
| Five-year floaters
|
| Amount: | $400 million
|
| Description: | Floating-rate notes
|
| Maturity: | July 20, 2023
|
| Coupon: | Libor plus 96 bps
|
|
|
| Five-year notes
|
| Amount: | $1.1 billion
|
| Description: | Fixed-rate notes
|
| Maturity: | July 20, 2023
|
| Coupon: | 3.75%
|
| Spread: | Treasuries plus 110 bps
|
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