By Cristal Cody
Chicago, Jan. 12 – Protective Life Global Funding priced $500 million of 4.99% funding agreement-backed notes due 2027, according to a market source.
The notes priced at Treasuries plus 85 basis points after talk had them coming in the 110 bps area.
Citigroup Global Markets Inc., Deutsche Bank Securities Inc., U.S. Bancorp Investments 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
|
| Amount: | $500 million
|
| Issue: | Funding-agreement backed notes
|
| Maturity: | Jan. 12, 2027
|
| Bookrunners: | Citigroup Global Markets Inc., Deutsche Bank Securities Inc., U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC
|
| Coupon: | 4.99%
|
| Spread: | Treasuries plus 85 bps
|
| Trade date: | Jan. 9
|
| Price talk: | Treasuries plus 110 bps area
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
