By Cristal Cody
Tupelo, Miss., Aug. 22 – Zions Bancorporation priced $500 million of 3.5% three-year senior notes (Baa3/BBB/BBB) on Wednesday at a spread of Treasuries plus 93 basis points, according to a market source.
Price guidance on the notes was in the Treasuries plus 95 bps area, plus or minus 2 bps. The notes were initially talked to print in the Treasuries plus 110 bps area.
Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC were the bookrunners.
Zions Bancorporation is a bank holding company based in Salt Lake City.
| Issuer: | Zions Bancorporation
|
| Amount: | $500 million
|
| Maturity: | Aug. 27, 2021
|
| Description: | Senior notes
|
| Bookrunners: | Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC
|
| Coupon: | 3.5%
|
| Spread: | Treasuries plus 93 bps
|
| Trade date: | Aug. 22
|
| Ratings: | Moody’s: Baa3
|
| S&P: BBB
|
| Fitch: BBB
|
| Price guidance: | Treasuries plus 95 bps area, plus or minus 2 bps; initially talked at Treasuries plus 110 bps area
|
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