By Cristal Cody
Chicago, May 22 – Pricoa Global Funding I priced $500 million of FA-backed notes with a five-year tenor in the Monday market, a market source said.
The notes priced with a 5.1% coupon for a spread of 135 basis points to Treasuries. Initial talk had the notes pricing in the 155 bps area.
Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and SMBC Nikko Securities America 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: | $500 million
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| Issue: | FA-backed notes
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| Maturity: | May 30, 2028
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| Bookrunners: | Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and SMBC Nikko Securities America Inc.
|
| Coupon: | 5.1%
|
| Spread: | Treasuries plus 135 bps
|
| Trade date: | May 22
|
| Price talk: | Treasuries plus 155 bps area
|
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