2nd UPDATE: US Bancorp Sells $1 Billion In 10-Year Notes Tuesday -Source
February 28 2012 - 2:22PM
Dow Jones News
U.S. Bancorp (USB) sold $1 billion of 10-year notes at 1.1
percentage points over the Treasury rate in the U.S. credit markets
Tuesday, according to a person familiar with the matter.
The 3% coupon, senior holding company medium-term notes were
priced to yield 3.008%. The spread to Treasurys was 0.05 point
better than original 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 underwrote 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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