By Andrea Heisinger
New York, May 28 - The Travelers Cos. Inc. priced $500 million 5.9% 10-year senior notes Thursday to yield Treasuries plus 225 basis points, according to a market source and an FWP filing with the Securities and Exchange Commission.
The notes (A2/A-/A) priced at 99.56 to yield 5.959% with a make-whole call at Treasuries plus 35 bps.
Bookrunners were Banc of America Securities LLC and Morgan Stanley & Co. Inc. Passive bookrunners were Barclays Capital Inc. and Deutsche Bank Securities Inc.
Proceeds will be used for general corporate purposes.
The holding company for insurance subsidiaries is based in New York City.
| Issuer: | The Travelers Cos. Inc.
|
| Issue: | Senior notes
|
| Amount: | $500 million
|
| Maturity: | June 2, 2019
|
| Bookrunners: | Banc of America Securities LLC, Morgan Stanley & Co. Inc. (active), Barclays Capital Inc., Deutsche Bank Securities Inc. (passive)
|
| Coupon: | 5.9%
|
| Price: | 99.56
|
| Yield: | 5.959%
|
| Spread: | Treasuries plus 225 bps
|
| Call: | Make-whole at Treasuries plus 35 bps
|
| Trade date: | May 28
|
| Settlement date: | June 2
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A-
|
| Fitch: A
|
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