Initially marketed to investors at 42bp over mid swaps, and subsequently tightened to 40-42bp over, the Reg-S 144a deal priced at the wider end of guidance. The transaction was priced at 98.364% on a coupon of 5.5% to yield 5.717%. This equated to 97.5bp over Treasuries or 42bp over mid-swaps. On an asset swap basis, the deal came at 39.5bp over Libor.
Fees were undisclosed.
Market instability that had pushed spreads out over the last week or so is...
