By Andrea Heisinger
Omaha, Dec. 12 - American General Finance, a unit of American International Group Inc., priced an upsized $3 billion in 6.9% 10-year notes Wednesday to yield 290 basis points more than Treasuries, an informed source said.
The notes (A1/A+/A+) were talked with a 7% coupon and spread in the 285 bps area, a market source said, with the issue upsized from $1.5 billion.
Full terms were not available at press time.
Bookrunners were Merrill Lynch, Pierce, Fenner & Smith Inc., Deutsche Bank Securities Inc. and RBS Greenwich Capital.
The insurance and financial company is based in New York City.
| Issuer: | American General Finance
|
| Issue: | Notes
|
| Amount: | $3 billion, upsized from $1.5 billion
|
| Maturity: | 2017
|
| Bookrunners: | Merrill Lynch, Pierce, Fenner & Smith Inc., Deutsche Bank Securities Inc., RBS Greenwich Capital
|
| Coupon: | 6.9%
|
| Spread: | Treasuries plus 290 bps
|
| Trade date: | Dec. 12
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A+
|
| Fitch: A+
|
| Price talk: | 285 bps area
|
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