By Cristal Cody
Tupelo, Miss., June 20 – AIG Global Funding priced $550 million of three-year senior secured notes (A2/A+) in two parts on Wednesday, according to a market source.
AIG sold $250 million of three-year floating-rate notes at Libor plus 46 basis points.
The company priced $300 million of 3.35% three-year fixed-rate notes at a Treasuries plus 68 bps spread.
Barclays, Deutsche Bank Securities Inc. and U.S. Bancorp Investments Inc. were the bookrunners.
AIG Global Funding is a financing arm of Houston-based American General Life Insurance Co., Inc.
| Issuer: | AIG Global Funding
|
| Amount: | $550 million
|
| Description: | Senior secured notes
|
| Bookrunners: | Barclays, Deutsche Bank Securities Inc. and U.S. Bancorp Investments Inc.
|
| Trade date: | June 20
|
| Ratings: | Moody’s: A2
|
| S&P: A+
|
|
|
| Three-year floaters
|
| Amount: | $250 million
|
| Description: | Senior secured floating-rate notes
|
| Maturity: | June 25, 2021
|
| Coupon: | Libor plus 46 bps
|
|
|
| Three-year notes
|
| Amount: | $300 million
|
| Description: | Senior secured fixed-rate notes
|
| Maturity: | June 25, 2021
|
| Coupon: | 3.35%
|
| Spread: | Treasuries plus 68 bps
|
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