LQD Prices $1B Notes
LQD prices $1 billion 4.603% fixed-to-floating rate senior notes due 2029
Senior unsecured notes priced at 100.000% of principal amount, with gross proceeds of $1B and net proceeds of $998.5M after underwriting discount and before offering expenses. - Notes bear fixed interest at 4.603% until July 27th, 2028, then compounded SOFR plus 0.622% until maturity on July 27th, 2029. - Settlement expected June 29th; joint book-running managers are Citigroup Global Markets and Goldman Sachs.