By Cristal Cody
Tupelo, Miss., May 1 – Reliance Standard Life Global Funding II priced $400 million of 2.75% five-year senior secured notes (A2/A+) at a Treasuries plus 250 basis points spread on Thursday, according to a market source.
Initial price talk was in the Treasuries plus 265 bps area.
Deutsche Bank Securities Inc., Credit Suisse Securities (USA) LLC and MUFG were the bookrunners.
The company held fixed income investor calls on Wednesday for the Rule 144A and Regulation S offering.
The issuer is a financing arm of Philadelphia-based Reliance Standard Life Insurance Co.
| Issuer: | Reliance Standard Life Global Funding II
|
| Amount: | $400 million
|
| Description: | Senior secured notes
|
| Maturity: | May 7, 2025
|
| Bookrunners: | Deutsche Bank Securities Inc., Credit Suisse Securities (USA) LLC and MUFG
|
| Coupon: | 2.75%
|
| Spread: | Treasuries plus 250 bps
|
| Trade date: | April 30
|
| Ratings: | Moody’s: A2
|
| S&P: A+
|
| Distribution: | Rule 144A and Regulation S
|
| Price guidance: | Treasuries plus 265 bps area
|
| Marketing: | Fixed income investor calls
|
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