By Cristal Cody
Chicago, May 22 – National Securities Clearing Corp. priced $1 billion of notes in two tranches (AA+) on Monday, according to information from a market source.
The issuer priced $400 million of 5.15% two-year notes at a spread of 85 basis points to Treasuries. Price talk was in the Treasuries plus 125 bps area.
The deal included $600 million of 5% five-year notes. That tranche priced at Treasuries plus 130 bps after talk in the 165 bps area.
BofA Securities, Inc., Citigroup Global Markets Inc., Scotia Capital (USA) Inc. and TD Securities (USA) LLC were listed as bookrunners.
The proceeds will be used to refinance the $1 billion senior notes maturing in December, according to an S&P Global Ratings press release.
The subsidiary of New York-based Depository Trust & Clearing Corp. provides clearing and settlement services to the financial industry.
| Issuer: | National Securities Clearing Corp.
|
| Amount: | $1 billion
|
| Issue: | Notes
|
| Bookrunners: | BofA Securities, Inc., Citigroup Global Markets Inc., Scotia Capital (USA) Inc. and TD Securities (USA) LLC
|
| Trade date: | May 22
|
| Ratings: | S&P: AA+
|
|
|
| Two-year notes
|
| Amount: | $400 million
|
| Maturity: | May 30, 2025
|
| Coupon: | 5.15%
|
| Spread: | Treasuries plus 85 bps
|
| Price talk: | Treasuries plus 125 bps area
|
|
|
| Five-year notes
|
| Amount: | $600 million
|
| Maturity: | May 30, 2028
|
| Coupon: | 5%
|
| Spread: | Treasuries plus 130 bps
|
| Price talk: | Treasuries plus 165 bps area
|
|
|
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