By Cristal Cody
Chicago, March 8 – Private Export Funding Corp. priced $450 million of 5.5% notes due in two years, on Wednesday, according to a market source.
The notes priced with a 45 basis points spread to Treasuries. Initial talk was in the 45 bps to 50 bps area.
BofA Securities, Inc. and Citizens Capital Markets Inc. are the bookrunners on the Rule 144A and Regulation S deal.
The New York City-based company provides loans to foreign importers and assists small businesses with financing U.S. exports.
| Issuer: | Private Export Funding Corp.
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| Amount: | $450 million
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| Issue: | Notes
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| Maturity: | March 14, 2025
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| Bookrunners: | BofA Securities, Inc. and Citizens Capital Markets Inc.
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| Coupon: | 5.5%
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| Spread: | Treasuries plus 45 bps
|
| Trade date: | March 8
|
| Distribution: | Rule 144A and Regulation S
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| Price talk: | Treasuries plus 45 bps to 50 bps area
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