By Cristal Cody
Tupelo, Miss., Dec. 3 – AIG Global Funding priced $550 million of 0.45% three-year senior secured notes (A2/A+) backed by funding agreements on Thursday at a spread of 28 basis points over Treasuries, according to a market source.
Price guidance was at the 30 bps over Treasuries area, plus or minus 2 bps.
Initial talk was in the 45 bps spread area.
BofA Securities, Inc., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and Deutsche Bank Securities 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
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| Amount: | $550 million
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| Description: | FA-backed senior secured notes
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| Maturity: | Dec. 8, 2023
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| Bookrunners: | BofA Securities, Inc., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and Deutsche Bank Securities Inc.
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| Coupon: | 0.45%
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| Spread: | Treasuries plus 28 bps
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| Trade date: | Dec. 3
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| Ratings: | Moody’s: A2
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| S&P: A+
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| Distribution: | Rule 144A and Regulation S
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| Price guidance: | Treasuries plus 30 bps area, plus or minus 2 bps; initial talk at Treasuries plus 45 bps area
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