By Cristal Cody
Tupelo, Miss., Feb. 3 – Citizens Financial Group, Inc. priced $300 million of 2.5% 10-year senior notes on Monday at a spread of 100 basis points over Treasuries, according to a market source.
The notes were initially talked to price with a spread in the 115 bps to 120 bps area.
Barclays, Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Citizens Capital Markets, Inc. were the bookrunners.
Proceeds will be used for general corporate purposes.
The banking and financial services company is based in Providence, R.I.
| Issuer: | Citizens Financial Group, Inc.
|
| Amount: | $300 million
|
| Maturity: | Feb. 6, 2030
|
| Securities: | Senior notes
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| Bookrunners: | Barclays, Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Citizens Capital Markets, Inc.
|
| Coupon: | 2.5%
|
| Spread: | Treasuries plus 100 bps
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| Trade date: | Feb. 3
|
| Ratings: | S&P: BBB+
|
| Fitch: BBB+
|
| Distribution: | SEC registered
|
| Price guidance: | Treasuries plus 115 bps-120 bps area
|
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