Pacific Life’s $400 million FA-backed notes due 2032 talked at Treasuries plus high 90 bps area

By Cristal Cody

Chicago, Jan. 4 – Pacific Life Global Funding II is offering $400 million of FA-backed notes due Jan. 11, 2032 in the Tuesday market, a market source said.

The notes are expected to come with a spread over Treasuries in the high 90 basis points area.

Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Mizuho Securities USA Inc. are the bookrunners.

Pacific Life Global Funding II is part of Newport Beach, Calif.-based insurance company Pacific Life Insurance Co.

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