Published on 8/22/2007 in the Prospect News Investment Grade Daily.
New Issue: Protective Life prices $75 million five-year notes at Libor plus 46 bps
By Jennifer Chiou
New York, Aug. 22 - Protective Life Secured Trust 2007-B priced $75 million of notes due Aug. 28, 2012 at par with a coupon of three-month Libor plus 46 basis points, according to an FWP with the Securities and Exchange Commission.
The coupon will be payable quarterly.
Banc of America Securities LLC is the underwriter.
| Issuer: | Protective Life Secured Trust 2007-B
|
| Issue: | Medium-term notes
|
| Amount: | $75 million
|
| Maturity: | Aug. 28, 2012
|
| Coupon: | Three-month Libor plus 46 bps
|
| Price: | Par
|
| Yield: | Three-month Libor plus 46 bps
|
| Pricing date: | Aug. 22
|
| Settlement date: | Aug. 28
|
| Underwriter: | Banc of America Securities LLC
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA
|
| Distribution: | SEC registered
|
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