By Cristal Cody
Tupelo, Miss., June 25 – AIG Global Funding sold $350 million of 2.3% three-year senior secured notes (A2/A+) on Tuesday on the tight side of guidance at a spread of 63 basis points over Treasuries, according to a market source.
Price guidance tightened to the 65 bps spread area from initial talk in the Treasuries plus 80 bps area.
BofA Securities, Inc., 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
|
| Amount: | $350 million
|
| Description: | Senior secured notes
|
| Maturity: | July 1, 2022
|
| Bookrunners: | BofA Securities, Inc., Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC
|
| Coupon: | 2.3%
|
| Spread: | Treasuries plus 63 bps
|
| Trade date: | June 25
|
| Ratings: | Moody’s: A2
|
| S&P: A+
|
| Price guidance: | Treasuries plus 65 bps area, plus or minus 2 bps; initial talk at Treasuries plus 80 bps area
|
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