By Cristal Cody
Chicago, Sept. 9 – PSP Capital Inc. sold a $1.25 billion offering of 0.5% three-year guaranteed notes on Wednesday, a market participant reported.
The notes priced with a spread of mid-swaps plus 2 basis points, or Treasuries plus 12.85 bps.
Pricing came on top of talk in the mid-swaps plus 2 bps area, and 1 bp lower than initial price talk in the 3 bps area.
Barclays, Goldman Sachs, HSBC and TD Securities are listed as bookrunners for the Rule 144A and Regulation S deal.
PSP Capital is the principal financing arm of the Ottawa-based Public Sector Pension Investment Board, the guarantor.
| Issuer: | PSP Capital Inc.
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| Guarantor: | Public Sector Pension Investment Board
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| Issue: | Guaranteed notes
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| Amount: | $1.25 billion
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| Maturity: | Sept. 15, 2024
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| Bookrunners: | Barclays, Goldman Sachs, HSBC and TD Securities
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| Coupon: | 0.5%
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| Spread: | Mid-swaps plus 2 bps, or Treasuries plus 12.85 bps
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| Trade date: | Sept. 8
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| Distribution: | Rule 144A and Regulation S
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| Price talk: | Mid-swaps plus 2 bps area; initial talk at mid-swaps plus 3 bps area
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