By Aleesia Forni
Virginia Beach, May 14 - Pricoa Global Funding I priced $700 million of notes in two- and five-year tranches, according to a market source.
The sale included $200 million of floating-rate notes due 2016 that priced at par to yield Libor plus 15 basis points.
There was also $500 million of 2.2% five-year notes sold at par with a spread of Treasuries plus 58 bps.
Both tranches priced at the tight end of talk.
Citigroup Global Markets Inc., HSBC Securities (USA) Inc. and UBS Securities LLC were the joint bookrunners for the Rule 144A and Regulation S deal.
The unit of financial services company Prudential Financial, Inc. is based in Newark, N.J.
| Issuer: | Pricoa Global Funding I
|
| Issue: | Notes
|
| Amount: | $700 million
|
| Joint bookrunners: | Citigroup Global Markets Inc., HSBC Securities (USA) Inc., UBS Securities LLC
|
| Trade date: | May 13
|
| Settlement date: | May 16
|
| Distribution: | Rule 144A, Regulation S
|
|
|
| Two-year floaters
|
| Amount: | $200 million
|
| Maturity: | May 16, 2016
|
| Coupon: | Libor plus 15 bps
|
| Price: | Par
|
| Yield: | Libor plus 15 bps
|
| Price talk: | Libor plus 20 bps area
|
|
|
| Five-year notes
|
| Amount: | $500 million
|
| Maturity: | May 16, 2019
|
| Coupon: | 2.2%
|
| Price: | Par
|
| Yield: | 2.2%
|
| Spread: | Treasuries plus 58 bps
|
| Price talk: | Treasuries plus 60 bps area
|
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