Sept 5 (Reuters) – Principal Financial Group Inc on
Wednesday sold $600 million of senior notes in two parts, said
IFR, a Thomson Reuters service.
Barclays Capital, Citigroup and Wells Fargo were the joint
bookrunning managers for the sale.
BORROWER: PRINCIPAL FINANCIAL
TRANCHE 1
AMT $300 MLN COUPON 3.3 PCT MATURITY 9/15/2022
TYPE SR NTS ISS PRICE 99.636 FIRST PAY 3/15/2013
MOODY’S A3 YIELD 3.343 PCT SETTLEMENT 9/10/2012
S&P; BBB-PLUS SPREAD 175 BPS PAY FREQ SEMI-ANNUAL
FITCH A-MINUS MORE THAN TREAS MAKE-WHOLE CALL 25 BPS
TRANCHE 2
AMT $300 MLN COUPON 4.625 PCT MATURITY 9/15/2042
TYPE SR NTS ISS PRICE 99.822 FIRST PAY 4/15/2013
MOODY’S A3 YIELD 4.636 PCT SETTLEMENT 9/10/2012
S&P; BBB-PLUS SPREAD 195 BPS PAY FREQ SEMI-ANNUAL
FITCH A-MINUS MORE THAN TREAS MAKE-WHOLE CALL 30 BPS
