By Wendy Van Sickle
Columbus, Ohio, Oct. 11 – BPCE SA priced four tranches of notes (Baa1/BBB+) on Tuesday for a total of $4 billion, according to a market source.
The first two notes both have a Oct. 19, 2027 maturity date.
As part of the pair, the company sold $300 million of floating-rate notes with a coupon based on SOFR plus a 198 basis points margin.
The fixed-rate part is $1.1 billion of 6.612% notes, priced at a Treasuries plus 185 bps spread.
A $1.25 billion tranche of notes due Oct. 19, 2029 priced with a 6.714% coupon at a spread of Treasuries plus 210 bps.
The company also sold $1.35 billion of 7.003%% 11-year notes with a spread of 235 bps over Treasuries.
The financial services company is based in Paris.
| Issuer: | BPCE SA
|
| Amount: | $4 billion
|
| Issue: | Notes
|
| Trade date: | Oct. 10
|
| Ratings: | Moody’s: Baa1
|
| S&P: BBB+
|
|
|
| Floaters
|
| Amount: | $300 million
|
| Issue: | Floating-rate notes
|
| Maturity: | Oct. 19, 2027
|
| Coupon: | SOFR plus 198 bps
|
|
|
| 2027 notes
|
| Amount: | $1.1 billion
|
| Issue: | Fixed-rate notes
|
| Maturity: | Oct. 19, 2027
|
| Coupon: | 6.612%
|
| Spread: | Treasuries plus 185 bps
|
|
|
| 2029 notes
|
| Amount: | $1.25 billion
|
| Issue: | Fixed-rate notes
|
| Maturity: | Oct. 19, 2029
|
| Coupon: | 6.714%
|
| Spread: | Treasuries plus 210 bps
|
|
|
| 2034 notes
|
| Amount: | $1.35 billion
|
| Issue: | Notes
|
| Maturity: | Oct. 19, 2034
|
| Coupon: | 7.003%
|
| Spread: | Treasuries plus 235 bps
|
|
|
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