By Devika Patel and Cristal Cody
Knoxville, Tenn., Jan. 6 – Cooperatieve Rabobank UA, New York branch priced $1.45 billion of notes in two tranches on Wednesday, according to a market source.
The company sold $450 million of three-year floating-rate notes at SOFR plus 38 basis points and $1 billion of 1.375% three-year notes priced at a spread of Treasuries plus 37 bps. The fixed-rate bonds were talked in the 55 bps to 60 bps area over Treasuries.
Citigroup, Credit Suisse, JPMorgan, Rabobank and TD Securities were the bookrunners.
The bank and financial services company is based in Utrecht, Netherlands.
| Issuer: | Cooperatieve Rabobank UA, New York branch
|
| Amount: | $1.45 billion
|
| Issue: | Fixed- and floating-rate notes
|
| Bookrunners: | Citigroup, Credit Suisse, JPMorgan, Rabobank and TD Securities
|
| Trade date: | Jan. 5
|
|
|
| 2025 floaters
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| Amount: | $450 million
|
| Issue: | Floating-rate notes
|
| Maturity: | Jan. 10, 2025
|
| Coupon: | SOFR plus 38 bps
|
|
|
| 2025 notes
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| Amount: | $1 billion
|
| Issue: | Fixed-rate notes
|
| Maturity: | Jan. 10, 2025
|
| Coupon: | 1.375%
|
| Spread: | Treasuries plus 37 bps
|
| Price guidance: | Treasuries plus 55 bps to 60 bps area
|
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