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

US Bancorp (NYSE:USB)
Historical Stock Chart
From May 2024 to Jun 2024 Click Here for more US Bancorp Charts.
US Bancorp (NYSE:USB)
Historical Stock Chart
From Jun 2023 to Jun 2024 Click Here for more US Bancorp Charts.