By Cristal Cody
Tupelo, Miss., Sept. 15 – AIG Global Funding priced an upsized $500 million of 0.9% five-year senior secured notes (A2/A+) on Tuesday at a spread of 65 basis points over Treasuries, according to a market source.
The notes were initially talked to print in the 80 bps to 85 bps over Treasuries area.
The offering was upsized from $350 million.
BofA Securities, Inc., Mizuho Securities USA LLC, Morgan Stanley & Co. LLC and U.S. Bancorp Investments Inc. were the bookrunners of the Rule 144A and Regulation S deal.
AIG Global Funding is a financing arm of Houston-based American General Life Insurance Co., Inc.
| Issuer: | AIG Global Funding
|
| Amount: | $500 million
|
| Description: | Senior secured notes
|
| Maturity: | Sept. 22, 2025
|
| Bookrunners: | BofA Securities, Inc., Mizuho Securities USA LLC, Morgan Stanley & Co. LLC and U.S. Bancorp Investments Inc.
|
| Coupon: | 0.9%
|
| Spread: | Treasuries plus 65 bps
|
| Trade date: | Sept. 15
|
| Ratings: | Moody’s: A2
|
| S&P: A+
|
| Distribution: | Rule 144A and Regulation S
|
| Price guidance: | Treasuries plus 80 bps-85 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.
