By Andrea Heisinger
New York, Sept. 25 - RBS Citizens Financial Group Inc. sold an upsized $350 million of 4.15% 10-year subordinated notes on Tuesday at a spread of Treasuries plus 250 basis points, a market source said.
The size of the deal was increased from $300 million.
The notes (/BBB+/BBB) were priced at 99.619 to yield 4.197%. There is no call option.
The deal was done under Rule 144A and Regulation S.
Bank of America Merrill Lynch and RBS Securities Inc. were the bookrunners.
The U.S. banking unit of the Royal Bank of Scotland Group plc is based in Providence, R.I.
| Issuer: | RBS Citizens Financial Group Inc.
|
| Issue: | Subordinated notes
|
| Amount: | $350 million, upsized from $300 million
|
| Maturity: | Sept. 28, 2022
|
| Bookrunners: | Bank of America Merrill Lynch, RBS Securities Inc.
|
| Coupon: | 4.15%
|
| Price: | 99.619
|
| Yield: | 4.197%
|
| Spread: | Treasuries plus 250 bps
|
| Call: | Non-callable
|
| Distribution: | Rule 144A, Regulation S
|
| Trade date: | Sept. 25
|
| Settlement date: | Sept. 28
|
| Ratings: | Standard & Poor's: BBB+
|
| Fitch: BBB
|
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