By Devika Patel and Cristal Cody
Knoxville, Tenn., June 29 – Protective Life Global Funding priced $300 million of 4.714% five-year funding agreement-backed notes with a spread of 145 basis points over Treasuries on Tuesday, according to a market source.
Initial price talk was in the Treasuries plus 145 bps to 150 bps area.
Deutsche Bank Securities Inc., SMBC Nikko Securities America Inc. and Wells Fargo Securities LLC were the bookrunners.
Protective Life Global Funding is a Charlotte, N.C.-based debt financing vehicle for Protective Life Insurance Co.
| Issuer: | Protective Life Global Funding
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| Amount: | $300 million
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| Issue: | FA-backed notes
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| Maturity: | July 6, 2027
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| Bookrunners: | Deutsche Bank Securities Inc., SMBC Nikko Securities America Inc. and Wells Fargo Securities LLC
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| Coupon: | 4.714%
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| Spread: | Treasuries plus 145 bps
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| Trade date: | June 28
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| Price talk: | Treasuries plus 145 bps to 150 bps area
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