Principal Life II plans floating-rate and fixed-rate notes due 2024

Chicago, April 5 – Principal Life Global Funding II plans to offer two tranches of notes with 2024 maturities (A1/A+), according to a market source.

The company is planning to sell a floating-rate tranche of notes. Additionally, a fixed-rate tranche of notes is being sold with guidance in the Treasuries plus 45 basis points area after initially being talked in the Treasuries plus 65 bps area.

Barclays, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and Goldman Sachs & Co. LLC are working as bookrunners for the notes.

Principal Life Global Funding II is a debt issuer arm of Principal Financial Group, Inc., a Des Moines-based retirement savings, investment and insurance products company.

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