By Andrea Heisinger
New York, April 20 - Ohio National Financial Services Inc. priced $300 million of 6.375% 10-year notes on Tuesday to yield Treasuries plus 262.5 basis points, a source away from the deal said.
The offering went overnight after being announced early on Monday.
The Rule 144A notes (Baa1/A/) priced at 99.467 to yield 6.448%. There is a make-whole call of Treasuries plus 40 bps.
Bank of America Merrill Lynch ran the books.
The insurance and financial services company is based in Cincinnati.
| Issuer: | Ohio National Financial Services Inc.
|
| Issue: | Notes
|
| Amount: | $300 million
|
| Maturity: | April 30, 2020
|
| Bookrunner: | Bank of America Merrill Lynch
|
| Coupon: | 6.375%
|
| Price: | 99.467
|
| Yield: | 6.448%
|
| Spread: | Treasuries plus 262.5 bps
|
| Call: | Make-whole at Treasuries plus 40 bps
|
| Distribution: | Rule 144A
|
| Trade date: | April 20
|
| Settlement date: | April 26
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: A
|
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