By Cristal Cody
Tupelo, Miss., June 5 – Astoria Financial Corp. (Baa3/BBB-/BBB-) sold $200 million of 3.5% three-year senior notes on Monday at par to yield Treasuries plus 206 basis points, according to an FWP filing with the Securities and Exchange Commission.
Sandler O’Neill + Partners, LP was the bookrunner.
Proceeds will be used to repay the company’s 5% senior notes due June 19, 2017 and for general corporate purposes. As of March 31, the notes had $250 million outstanding, according to a press release from Astoria Financial on Monday.
Astoria Financial is a Lake Success, N.Y.-based savings and loan holding company of Astoria Bank and subsidiaries. Astoria Financial entered into a merger agreement in March with Montebello, N.Y.-based Sterling Bancorp, with Sterling National Bank to be the surviving bank following the merger.
| Issuer: | Astoria Financial Corp.
|
| Amount: | $200 million
|
| Description: | Senior notes
|
| Maturity: | June 8, 2020
|
| Bookrunner: | Sandler O’Neill + Partners, LP
|
| Co-manager: | Macquarie Capital (USA) Inc.
|
| Coupon: | 3.5%
|
| Price: | Par
|
| Yield: | 3.5%
|
| Spread: | Treasuries plus 206 bps
|
| Call feature: | On or after the 30th day before maturity at par
|
| Trade date: | June 5
|
| Settlement date: | June 8
|
| Ratings: | Moody’s: Baa3
|
| S&P: BBB-
|
| Fitch: BBB-
|
| Distribution: | SEC registered
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
