By Aleesia Forni
Virginia Beach, Sept. 19 - BB&T Corp. sold $875 million three-year notes (A1/A/A+) in two tranches on Tuesday, according to a syndicate source.
The deal included $375 million of floaters due 2016 priced at par to yield Libor plus 43 basis points.
There was also $500 million of three-year notes sold with a spread of Treasuries plus 52 bps, or 99.876 to yield 1.095%.
The notes sold at the tight end of talk.
BB&T Capital Markets, Deutsche Bank Securities Inc. and Citigroup Global Markets Inc. were the joint bookrunners.
The financial services company is based in Winston-Salem, N.C.
| Issuer: | BB&T Corp.
|
| Issue: | Notes
|
| Amount: | $875 million
|
| Joint bookrunners: | BB&T Capital Markets, Deutsche Bank Securities Inc., Citigroup Global Markets Inc.
|
| Trade date: | Nov. 19
|
| Settlement date: | Nov. 26
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A
|
| Fitch: A+
|
|
|
| Floaters due 2016
|
| Amount: | $375 million
|
| Maturity: | Dec. 1, 2016
|
| Coupon: | Libor plus 43 bps
|
| Price: | Par
|
| Yield: | Libor plus 43 bps
|
|
|
| Fixed-rate notes due 2016
|
| Amount: | $500 million
|
| Maturity: | Dec. 1, 2016
|
| Coupon: | 1.05%
|
| Price: | 99.876
|
| Yield: | 1.095%
|
| Spread: | Treasuries plus 52 bps
|
| Price talk: | Treasuries plus 55 bps area
|
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