By Aleesia Forni
Virginia Beach, Va., Nov. 18 - Capital One Financial Corp. tapped the market for $1 billion of notes (A3/BBB+/A-) in two maturities on Monday, a market source said.
A $400 million tranche of 1.15% notes due 2016 was priced with a spread of Treasuries plus 60 basis points. Pricing was at 99.997 to yield 1.151%.
There was also $600 million of 2.15% notes due 2018 priced with a spread of Treasuries plus 85 bps, or 99.943 to yield 2.162%.
Bookrunners were Citigroup Global Markets Inc., Morgan Stanley & Co. LLC and RBC Capital Markets LLC.
The financial services company is based in McLean, Va.
| Issuer: | Capital One Financial Corp.
|
| Issue: | Senior notes
|
| Amount: | $1 billion
|
| Joint bookrunners: | Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, RBC Capital Markets LLC
|
| Trade date: | Nov. 18
|
| Settlement date: | Nov. 21
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: BBB+
|
| Fitch: A-
|
|
|
| Notes due 2016
|
| Amount: | $400 million
|
| Maturity: | 2016
|
| Coupon: | 1.15%
|
| Price: | 99.997
|
| Yield: | 1.151%
|
| Spread: | Treasuries plus 60 bps
|
|
|
| Notes due 2018
|
| Amount: | $600 million
|
| Maturity: | 2018
|
| Coupon: | 2.15%
|
| Price: | 99.943
|
| Yield: | 2.162%
|
| Spread: | Treasuries plus 85 bps
|
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