FDIC Prices Another Note Offering
March 25, 2010
The Federal Deposit Insurance Corp. (FDIC) has priced a more than $653 million offering under its Structured Sale Guaranteed Notes 2010-L2. The sole bookrunner on the deal is Barclays Capital
The single-tranche 144A transaction has a four-year weighted average life. It priced at 75 basis points over swaps with a coupon of 3.00% and a yield of 3.032%.
Last week, the FDIC also priced a similarly-sized single tranche offering under the same note series. The deal had 2.73-year dated, fixed-rate Class A notes.
The FDIC previously announced that it will be selling to investors $3.85 billion worth of bonds guaranteed by the government.
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