By Andrea Heisinger
New York, Jan. 3 - MetLife Global Funding I priced $2 billion of notes (Aa3/AA-/AA-) with maturities of 2018 and 2023, a source said on Thursday.
The sale included $1.25 billion of 1.5% five-year notes sold at 99.478 to yield 1.609% with a spread of Treasuries plus 80 basis points.
There was also $750 million of 3% 10-year notes priced at 99.949 to yield 3.006% with a spread of 110 bps over Treasuries.
Pricing was done under Rule 144A and Regulation S.
The bookrunners for the five-year notes were Barclays, J.P. Morgan Securities LLC and UBS Securities LLC. Those for the 10-year notes were Bank of America Merrill Lynch, JPMorgan and Morgan Stanley & Co. LLC.
The unit of insurance and employee benefits company MetLife, Inc. is based in New York City.
| Issuer: | MetLife Global Funding I
|
| Issue: | Notes
|
| Amount: | $2 billion
|
| Distribution: | Rule 144A, Reg. S
|
| Trade date: | Jan. 3
|
| Settlement date: | Jan. 10
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| Fitch: AA-
|
|
|
| Five-year notes
|
| Amount: | $1.25 billion
|
| Maturity: | Jan. 10, 2018
|
| Bookrunners: | Barclays, J.P. Morgan Securities LLC, UBS Securities LLC
|
| Coupon: | 1.5%
|
| Price: | 99.478
|
| Yield: | 1.609%
|
| Spread: | Treasuries plus 80 bps
|
|
|
| Ten-year notes
|
| Amount: | $750 million
|
| Maturity: | Jan. 10, 2023
|
| Bookrunners: | Bank of America Merrill Lynch, JPMorgan, Morgan Stanley & Co. LLC.
|
| Coupon: | 3%
|
| Price: | 99.949
|
| Yield: | 3.006%
|
| Spread: | Treasuries plus 110 bps
|
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