By Cristal Cody
Tupelo, Miss., June 27 – AIG Global Funding priced $550 million of three-year senior secured notes (A2/A+/) in two parts on Tuesday, according to a market source.
AIG sold $250 million of three-year floating-rate notes at Libor plus 48 basis points.
The company priced $300 million of three-year fixed-rate notes at a Treasuries plus 65 bps spread.
BofA Merrill Lynch, Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC were the bookrunners.
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: | $850 million
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| Description: | Senior secured notes
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| Bookrunners: | BofA Merrill Lynch, Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC
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| Trade date: | June 27
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| Ratings: | Moody’s: A2
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| S&P: A+
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| Three-year floaters
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| Amount: | $250 million
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| Maturity: | July 2, 2020
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| Coupon: | Libor plus 48 bps
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|
|
| Three-year notes
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| Amount: | $300 million
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| Maturity: | July 2, 2020
|
| Coupon: | 2.15%
|
| Spread: | Treasuries plus 65 bps
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