By Cristal Cody
Tupelo, Miss., Oct. 26 – Capital One Financial Corp. priced $2.5 billion senior notes (Baa1/BBB/A-) in three tranches on Thursday, according to a market source.
Capital One sold $400 million of three-year floating-rate notes at Libor plus 45 basis points.
The company brought $600 million of 2.4% three-year fixed-rate notes at a spread of Treasuries plus 68 bps.
In the final tranche, Capital One priced $1.5 billion of 3.3% seven-year notes at a Treasuries plus 105 bps spread.
BofA Merrill Lynch, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, RBC Capital Markets, LLC and Capital One Securities were the bookrunners.
Proceeds will be used for general corporate purposes, including debt repayment, redemptions and repurchases of common stock or other securities, acquisitions, working capital, capital expenditures and investments in subsidiaries.
Capital One is a McLean, Va.-based financial services company.
| Issuer: | Capital One Financial Corp.
|
| Amount: | $2.5 billion
|
| Description: | Senior notes
|
| Bookrunners: | BofA Merrill Lynch, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, RBC Capital Markets, LLC and Capital One Securities
|
| Trade date: | Oct. 26
|
| Ratings: | Moody’s: Baa1
|
| S&P: BBB
|
| Fitch: A-
|
| Distribution: | SEC registered
|
|
|
| Three-year floaters
|
| Amount: | $400 million
|
| Maturity: | Oct. 30, 2020
|
| Coupon: | Libor plus 45 bps
|
|
|
| Three-year notes
|
| Amount: | $600 million
|
| Maturity: | Oct. 30, 2020
|
| Coupon: | 2.4%
|
| Spread: | Treasuries plus 68 bps
|
|
|
| Seven-year notes
|
| Amount: | $1.5 billion
|
| Maturity: | Oct. 30, 2024
|
| Coupon: | 3.3%
|
| Spread: | Treasuries plus 105 bps
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
