By Cristal Cody
Tupelo, Miss., Aug. 25 – Pricoa Global Funding I priced $400 million of 0.8% five-year funding agreement-backed notes (Aa3/AA-AA-) on Tuesday with a spread of Treasuries plus 55 basis points, according to a market source.
Price guidance was in the Treasuries plus 65 bps area.
BNP Paribas Securities Corp., HSBC Securities (USA) Inc. and U.S. Bancorp Investments, Inc. were the bookrunners.
Pricoa Global Funding I is a financing arm of Newark, N.J.-based Prudential Insurance Co. of America, Inc.
| Issuer: | Pricoa Global Funding I
|
| Amount: | $400 million
|
| Description: | FA-backed notes
|
| Maturity: | Sept. 1, 2025
|
| Bookrunners: | BNP Paribas Securities Corp., HSBC Securities (USA) Inc. and U.S. Bancorp Investments, Inc.
|
| Coupon: | 0.8%
|
| Spread: | Treasuries plus 55 bps
|
| Trade date: | Aug. 25
|
| Ratings: | Moody’s: Aa3
|
| S&P: AA-
|
| Fitch: AA-
|
| Distribution: | Rule 144A and Regulation S
|
| Price guidance: | Treasuries plus 65 bps area
|
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