By Andrea Heisinger
New York, June 2 - Prudential Financial, Inc. sold $1 billion of notes (Baa2/A/) in two tranches Tuesday, an informed source said.
The $250 million of 6.2% notes due Jan. 15, 2015 priced at 99.937 to yield 6.211%, or Treasuries plus 370 basis points.
The $750 million of 7.375% 10-year notes priced at 99.997 to yield 7.375%, or Treasuries plus 370 bps.
Both tranches are non-callable.
The notes came in line with official price guidance of 370 bps over Treasuries, the source said.
Bookrunners were Citigroup Global Markets Inc. and Goldman Sachs & Co.
The insurance and financial services company is based in Newark, N.J.
| Issuer: | Prudential Financial, Inc.
|
| Issue: | Notes
|
| Total amount: | $1 billion
|
| Bookrunners: | Citigroup Global Markets Inc., Goldman Sachs & Co.
|
| Trade date: | June 2
|
| Settlement date: | June 8
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: A
|
|
|
| Notes due 2015
|
| Amount: | $250 million
|
| Maturity: | Jan. 15, 2015
|
| Coupon: | 6.2%
|
| Price: | 99.937
|
| Yield: | 6.211%
|
| Spread: | Treasuries plus 370 bps
|
| Call: | Non-callable
|
| Price talk: | 370 bps
|
|
|
| 10-year notes
|
| Amount: | $750 million
|
| Maturity: | June 15, 2019
|
| Coupon: | 7.375%
|
| Price: | 99.997
|
| Yield: | 7.375%
|
| Spread: | Treasuries plus 370 bps
|
| Call: | Non-callable
|
| Price talk: | 370 bps
|
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