Truist Financial Corp. sold $2.5 billion of investment-grade bonds Monday, after concern last week about losses at some regional banks briefly stoked broader credit worries.
The firm and a unit issued notes in two parts, with the longer portion of the deal — a $1.25 billion 11 year — yielding 0.98 percentage point above Treasuries, according to a person familiar with the matter. Initial price talk was a premium of about 1.25 percentage points. A four-year floating rate note was dropped during syndication, and proceeds from the deal will go toward general corporate purposes, added the person, who asked not to be identified as they’re not authorized to speak publicly.