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Societe Generale Raises $1.25 Billion of Five-Year Debt in U.S.

Societe Generale SA (GLE), the second- largest French lender, sold $1.25 billion of five-year notes in its first benchmark dollar-denominated issue this year.

The bank, which has $16.2 billion of bonds maturing next year, sold the 2.75 percent debt to yield 215 basis points more than similar-maturity Treasuries, according to data compiled by Bloomberg. Proceeds will be used for general corporate purposes.

The Paris-based company previously sold benchmark dollar bonds in June 2011, issuing $850 million of floating-rate debt that matured in August 2011 and paid 20 basis points more than the bi-monthly London interbank offered rate, Bloomberg data show.

The new bonds may be rated A2 by Moody’s Investors Service, according to a person familiar with the transaction, who asked not to be identified, citing lack of authorization to speak publicly.

Citigroup Inc., Credit Suisse Group AG, and Societe Generale managed the sale, Bloomberg data show. BNP Paribas SA is France’s largest bank.

To contact the reporter on this story: Sarika Gangar in New York at sgangar@bloomberg.net

To contact the editor responsible for this story: Alan Goldstein at agoldstein5@bloomberg.net

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