By Aleesia Forni
Virginia Beach, Aug. 18 – Travelers Cos., Inc. sold $400 million 4.3% 30-year senior notes (A2/A/A) on Tuesday at Treasuries plus 150 basis points, according to an informed source.
Pricing was at 99.216 to yield 4.347%.
The issue came at the tight end of guidance set in the Treasuries plus 155 bps area following initial talk in the area of Treasuries plus 170 bps.
Credit Suisse Securities (USA) LLC, Wells Fargo Securities LLC, Goldman Sachs & Co. and HSBC Securities are the bookrunners.
Proceeds will be used to repay debt.
The holding company for commercial, property and casualty insurance subsidiaries is based in New York City.
| Issuer: | Travelers Cos. Inc.
|
| Amount: | $400 million
|
| Description: | Senior notes
|
| Maturity: | Aug. 25, 2045
|
| Bookrunners: | Credit Suisse Securities (USA) LLC, Wells Fargo Securities LLC, Goldman Sachs & Co., HSBC Securities
|
| Coupon: | 4.3%
|
| Price: | 99.216
|
| Yield: | 4.347%
|
| Spread: | Treasuries plus 150 bps
|
| Trade date: | Aug. 18
|
| Settlement date: | Aug. 25
|
| Ratings: | Moody’s: A2
|
| Standard & Poor’s: A
|
| Fitch: A
|
| Distribution: | SEC registered
|
| Price guidance: | Treasuries plus 155 bps area, tightened from Treasuries plus 170 bps area
|
© 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.
