By Marisa Wong and Cristal Cody
Los Angeles, April 9 – Nuveen LLC priced $1.25 billion of fixed-rate notes (Baa1/A) in two parts on Monday, according to a market source.
Nuveen priced $500 million of 5.55% notes due Jan. 15, 2030 at Treasuries plus 115 basis points. Initial price talk was in the Treasuries plus 155 bps area; the deal was guided to and launched at Treasuries plus 120 bps.
The second tranche was $750 million of 5.85% notes due April 15, 2034, priced at Treasuries plus 149 bps. Initial price talk was in the Treasuries plus 180 bps area; the deal was guided to and launched at Treasuries plus 145 bps.
Spreads firmed 5 bps from guidance and where they were launched.
BofA Securities, Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Wells Fargo Securities LLC are the bookrunners.
The company held fixed-income investor calls and a presentation on Friday for the deal.
Nuveen is an investment management company based in Chicago.
| Issuer: | Nuveen LLC
|
| Amount: | $1.25 billion
|
| Issue: | Notes
|
| Bookrunners: | BofA Securities, Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Wells Fargo Securities LLC
|
| Pricing date: | April 8
|
| Ratings: | Moody’s: Baa1
|
| S&P: A
|
|
|
| 2030 notes
|
| Amount: | $500 million
|
| Maturity: | Jan. 15, 2030
|
| Coupon: | 5.55%
|
| Spread: | Treasuries plus 115 bps
|
| Initial price talk: | Treasuries plus 155 bps area; guidance and launch at Treasuries plus 120 bps
|
|
|
| 2034 notes
|
| Amount: | $750 million
|
| Maturity: | April 15, 2034
|
| Coupon: | 5.85%
|
| Spread: | Treasuries plus 149 bps
|
| Initial price talk: | Treasuries plus 180 bps area; guidance and launch at Treasuries plus 145 bps
|
|
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