By Cristal Cody
Chicago, July 11 – Pacific Life Global Funding II priced $450 million of 5.5% notes with a five-year tenor on Tuesday, a market source detailed.
The notes priced with a Treasuries plus 128 basis points spread after initial talk in the 145 bps area.
Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC were bookrunners.
Pacific Life Global Funding II is part of Newport Beach, Calif.-based insurance company Pacific Life Insurance Co.
Issuer: | Pacific Life Global Funding II
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Amount: | $450 million
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Issue: | Notes
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Maturity: | July 18, 2028
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Bookrunners: | Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC
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Coupon: | 5.5%
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Spread: | Treasuries plus 128 bps
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Trade date: | July 11
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Price talk: | Treasuries plus 145 bps area
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