By Andrea Heisinger
New York, Oct. 10 - Private Export Funding Corp. was in the market on Wednesday with an upsized $400 million sale of 10-year notes priced to yield Treasuries plus 38 basis points, a market source said.
The notes (Aaa/AA+/) were sold tighter than guidance that was in the 45 bps over Treasuries area.
Full terms were not available at press time.
Bookrunners were HSBC Securities (USA) Inc. and J.P. Morgan Securities Inc.
The notes are guaranteed by the Export-Import Bank of the United States.
The company assists with financing U.S. exports through private capital and is based in New York City.
| Issuer: | Private Export Funding Corp.
|
| Guarantor: | Export-Import Bank of the United States
|
| Issue: | Notes
|
| Amount: | $400 million, upsized from $300 million
|
| Maturity: | 2022
|
| Bookrunners: | HSBC Securities (USA) Inc., J.P. Morgan Securities Inc.
|
| Spread: | Treasuries plus 38 bps
|
| Distribution: | Rule 144A, Regulation S
|
| Trade date: | Oct. 10
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AA+
|
| Price talk: | 45 bps area
|
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