By Andrea Heisinger
Omaha, Oct. 25 - Washington Mutual, Inc. priced $500 million of 7.25% 10-year subordinated notes Thursday to yield Treasuries plus 300 basis points.
The notes (A2/A-) were priced at 99.377 to yield 7.339%.
Bookrunners were Barclays Capital, Credit Suisse, Lehman Brothers and Morgan Stanley.
Proceeds will be used for general corporate purposes, including providing funding to the company's subsidiaries.
The retailer of financial services to consumers and small businesses is based in Seattle.
| Issuer: | Washington Mutual, Inc.
|
| Issue: | Subordinated notes
|
| Amount: | $500 million
|
| Maturity: | Nov. 1, 2017
|
| Bookrunners: | Barclays Capital, Credit Suisse, Lehman Brothers, Morgan Stanley
|
| Coupon: | 7.25%
|
| Price: | 99.377
|
| Yield: | 7.339%
|
| Spread: | Treasuries plus 300 bps
|
| Trade date: | Oct. 25
|
| Settlement date: | Nov. 1
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A-
|
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