MetLife Institutional To Sell Floating-Rate Notes
March 29 2011 - 1:47PM
Dow Jones News
MetLife Institutional Funding II said it would sell a
benchmark-sized offering of floating-rate notes on Tuesday.
The three-year issue is expected to be sold in the private
placement Rule 144a market later this session via sole bookrunner
Barclays Capital.
Preliminary pricing guidance suggests a risk premium of 90 basis
points over the three month London Interbank Offered rate.
Proceeds will be used for general corporate purposes, which
could include the repayment of outstanding debt securities.
The deal has been rated Aa3 by Moody's Investors Service and AA-
by Standard & Poor's.
-By Kellie Geressy-Nilsen; Dow Jones Newswires; 212 416-2225;
kellie.geressy@dowjones.com
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