By Cristal Cody
Chicago, Jan. 16 – Cooperatieve Rabobank UA, New York branch sold $2.5 billion of notes in three tranches, according to a market source.
The deal included two notes due in 2026 and one note due in 2029.
The first tranche of the two-note pair priced as a $750 million two-year floating-rate note with a SOFR plus 71 basis points coupon.
The fixed-rate part of the duo priced as $1 billion of 4.85% notes with a 55 bps spread to Treasuries. Price talk was in the 70 bps area.
The third series is $500 million of 4.8% notes due 2029. The spread was 90 bps to the benchmark Treasury. Talk was in the 105 bps area.
BofA Securities, Inc., BNP Paribas Securities Corp., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Rabobank were the bookrunners.
The bank and financial services company is based in Utrecht, Netherlands.
| Issuer: | Cooperatieve Rabobank UA, New York branch
|
| Amount: | $2.5 billion
|
| Issue: | Notes
|
| Bookrunners: | BofA Securities, Inc., BNP Paribas Securities Corp., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Rabobank
|
| Trade date: | Jan. 2
|
|
|
| Floaters
|
| Amount: | $750 million
|
| Issue: | Floating-rate notes
|
| Maturity: | Jan. 9, 2026
|
| Coupon: | SOFR plus 71 bps
|
| Price talk: | SOFR plus equivalent spread
|
|
|
| Fixed-rate notes
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| Amount: | $1 billion
|
| Maturity: | Jan. 9, 2026
|
| Coupon: | 4.85%
|
| Spread: | Treasuries plus 55 bps
|
| Price talk: | Treasuries plus 70 bps area
|
|
|
| Notes due 2029
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| Amount: | $500 million
|
| Maturity: | Jan. 9, 2029
|
| Coupon: | 4.8%
|
| Spread: | Treasuries plus 90 bps
|
| Price talk: | Treasuries plus 105 bps area
|
|
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