Digital Assets in Capital Markets

Advanced course on digital assets - assets created using a blockchain/DLT network - designed for finance professionals.

IBF-STS
8 CACS CPD Hours

15 November 2022 (Tuesday) | 9am-5pm

After Goldman Sachs and Morgan Stanley’s jumbo bond issuances yesterday which totaled $13bn, Citigroup and BNY Mellon priced new bonds on Thursday.

Citigroup raised $2.5bn via a 6Y non-call 5Y (6NC5) bond at a yield of 1.126%, or T+68bp, 12bp inside initial guidance of T+80bp area. The SEC registered bonds have expected ratings of A3/BBB+/A and have a make whole call provision.

BNY Mellon raised $1.2bn via a two part offering. It raised $700mn via a 5Y bond at a yield of 0.794%, or T+35bp, 15bp inside initial guidance of T+50bp area. It also raised $500mn via a 10Y bond at a yield of 1.654%, or T+55bp, 15bp inside initial guidance of T+70bp area. The SEC bonds have expected ratings of A1/A. Proceeds will be used for general corporate purposes.

Citi’s 4% Perp was down 0.2 to 102.1, yielding 3.53% and BNY Mellon’s 4.5% Perp was down 0.13 to 101.4, yielding 3.87%.

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