By Aleesia Forni
Virginia Beach, Va., Aug. 12 - Prudential Financial Inc. priced a $1.05 billion three-part offering of notes (Baa1/A/) on Monday, according to a market source.
The company sold $350 million of floating-rate notes due 2018 at Libor plus 78 basis points.
There was also $350 million of fixed-rate notes due 2018 that priced with a spread of Treasuries plus 95 bps.
A third tranche was $350 million of notes due 2043 sold with a spread of Treasuries plus 140 bps.
Both fixed-rate tranches priced at the tight end of talk.
Full terms were not available at press time.
Prudential is a Newark, N.J.-based financial services company.
| Issuer: | Prudential Financial
|
| Issue: | Notes
|
| Amount: | $1.05 billion
|
| Bookrunners: | Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman Sachs & Co., RBS Securities Inc.
|
| Trade date: | Aug. 12
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: A
|
|
|
| Five-year floaters
|
| Amount: | $350 million
|
| Maturity: | 2018
|
| Coupon: | Libor plus 78 bps
|
| Price: | Par
|
| Yield: | Libor plus 78 bps
|
|
|
| Five-year fixed-rate notes
|
| Amount: | $350 million
|
| Maturity: | 2018
|
| Spread: | Treasuries plus 95 bps
|
| Price talk: | Treasuries plus 100 bps area
|
|
|
| 30-year notes
|
| Amount: | $350 million
|
| Maturity: | 2043
|
| Spread: | Treasuries plus 140 bps
|
| Price talk: | Treasuries plus 145 bps area
|
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