By Cristal Cody
Chicago, Sept. 29 – Athene Global Funding sold $1.15 billion over two tranches of notes backed by funding agreements, a market source reported.
Athene sold $650 million of 1.73% five-year notes, priced with a spread of 73 basis points over Treasuries. The notes priced low to initial price talk in the 90 bps to 95 bps area.
The deal included a second tranche of $500 million of 2.646% 10-year notes. The notes priced with a spread of Treasuries plus 110 bps, low to initial price talk in the 125 bps to 130 bps area.
While the deal was in the market, a five-year floating-rate tranche was dropped from the transaction.
Deutsche Bank Securities Inc. HSBC Securities (USA) Inc., Morgan Stanley & Co. LLC and Wells Fargo Securities LLC were the bookrunners.
Athene Global Funding is a financing arm of Pembroke, Bermuda-based retirement services company Athene Holding Ltd.
| Issuer: | Athene Global Funding
|
| Issue: | FA-backed notes
|
| Amount: | $1.15 billion
|
| Bookrunners: | Deutsche Bank Securities Inc. HSBC Securities (USA) Inc., Morgan Stanley & Co. LLC and Wells Fargo Securities LLC
|
| Trade date: | Sept. 29
|
|
|
| Five-year notes
|
| Amount: | $650 million
|
| Maturity: | Oct. 2, 2026
|
| Coupon: | 1.73%
|
| Spread: | Treasuries plus 73 bps
|
| Price talk: | Treasuries plus 90 bps to 95 bps area
|
|
|
| 10-year notes
|
| Amount: | $500 million
|
| Maturity: | Oct. 4, 2031
|
| Coupon: | 2.646%
|
| Spread: | Treasuries plus 110 bps
|
| Price talk: | Treasuries plus 125 bps to 130 bps area
|
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