By Andrea Heisinger
New York, Jan. 11 - Credit Suisse AG priced a slightly upsized $2.05 billion of senior notes (Aa1/A+/AA-) in two parts on Tuesday, a source away from the offering said.
The size of the sale had initially been $2 billion, with the tranche of floaters increased on demand, the source said later.
The $800 million of three-year floating-rate notes priced at par to yield Libor plus 96 basis points. The tranche size had been $750 million.
A second tranche of $1.25 billion 2.2% three-year notes priced at 99.879 to yield 2.242% with a spread of Treasuries plus 128 bps.
Both tranches are non-callable.
Credit Suisse Securities (USA) LLC was the bookrunner.
The proceeds are being used for general corporate purposes, including refinancing debt outside of Switzerland.
The financial services company is based in Zurich.
| Issuer: | Credit Suisse AG
|
| Issue: | Senior notes
|
| Amount: | $2.05 billion, increased from $2 billion
|
| Bookrunner: | Credit Suisse Securities (USA) LLC
|
| Trade date: | Jan. 11
|
| Settlement date: | Jan. 14
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: A+
|
| Fitch: AA-
|
|
|
| Three-year fixed-rate notes
|
| Amount: | $1.25 billion
|
| Maturity: | Jan. 14, 2014
|
| Coupon: | 2.2%
|
| Price: | 99.879
|
| Yield: | 2.242%
|
| Spread: | Treasuries plus 128 bps
|
| Call: | Non-callable
|
|
|
| Three-year floaters
|
| Amount: | $800 million, increased from $750 million
|
| Maturity: | Jan. 14, 2014
|
| Coupon: | Three-month Libor plus 96 bps
|
| Price: | Par
|
| Yield: | Three-month Libor plus 96 bps
|
| Call: | Non-callable
|
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