By Andrea Heisinger
New York, July 31 - Private Export Funding Corp. sold $400 million of 1.45% seven-year notes on Tuesday to yield Treasuries plus 48 basis points, a market source who worked on the trade said.
The deal's size was increased from $300 million.
The notes (Aaa/AA+/) were priced at 99.801 to yield 1.48%. There is no call option.
Bookrunners were Bank of America Merrill Lynch and Citigroup Global Markets Inc.
The company assists with financing U.S. exports through private capital and is based in New York City.
| Issuer: | Private Export Funding Corp.
|
| Issue: | Notes
|
| Amount: | $400 million, upsized from $300 million
|
| Maturity: | Aug. 15, 2019
|
| Bookrunners: | Bank of America Merrill Lynch, Citigroup Global Markets Inc.
|
| Coupon: | 1.45%
|
| Price: | 99.801
|
| Yield: | 1.48%
|
| Spread: | Treasuries plus 48 bps
|
| Call: | Non-callable
|
| Trade date: | July 31
|
| Settlement date: | Aug. 9
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AA+
|
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