By Cristal Cody
Chicago, Jan. 16 – Pacific Life Global Funding II sold $400 million of 4.9% funding agreement-backed notes due 2029, according to a market source.
The notes priced at Treasuries plus 95 basis points. Spread talk started in the 115 bps area.
Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and TD Securities (USA) LLC were the bookrunners.
Pacific Life Global Funding II is part of Newport Beach, Calif.-based insurance company Pacific Life Insurance Co.
| Issuer: | Pacific Life Global Funding II
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| Amount: | $400 million
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| Issue: | FA-backed notes
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| Maturity: | Jan. 11, 2029
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| Bookrunners: | Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and TD Securities (USA) LLC
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| Coupon: | 4.9%
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| Spread: | Treasuries plus 95 bps
|
| Trade date: | Jan. 4
|
| Price talk: | Treasuries plus 115 bps
|
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