UPDATE: US Bancorp Launches $1 Billion In 10-Year Notes Tuesday -Source
February 28 2012 - 12:25PM
Dow Jones News
U.S. Bancorp (USB) has launched terms for a $1 billion offering
of 10-year notes in the U.S. credit markets Tuesday, according to a
person familiar with the matter.
The senior holding company medium-term notes were launched at
1.1 percentage points over the Treasury rate, reflecting a 0.05
point improvement from earlier pricing guidance.
U.S. Bancorp is raising funds for general corporate purposes.
The notes are expected to be rated Aa3 by Moody's Investors
Service, A by Standard & Poor's, AA-minus by Fitch Ratings, and
AA by DBRS.
The deal is registered with the Securities and Exchange
Commission.
U.S. Bancorp is underwriting the notes along with Barclays
Capital and Credit Suisse Group (CS, CSGN.VX).
-By Patrick McGee, Dow Jones Newswires; 212-416-2382;
patrick.mcgee@dowjones.com
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