Aug. 15 (Bloomberg) -- Moody’s Corp., the world’s second-largest provider of credit ratings, sold $500 million in bonds for general corporate purposes, its first offering since 2010.
Moody’s issued the 4.5 percent, 10-year bonds to yield 280 basis points, or 2.8 percentage points, more than similar-maturity Treasuries, according to data compiled by Bloomberg. Standard & Poor’s, the biggest credit-ratings firm, ranked the debt BBB+, its third-lowest investment-grade level, according to a statement.
The company last tapped the debt market in August 2010 with a $500 million offering. The 5.5 percent securities due in September 2020 traded at 108.7 cents on the dollar yesterday for a yield of 4.2 percent, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority.
Bank of America Corp., Citigroup Inc., and JPMorgan Chase & Co. managed the sale, Bloomberg data show.
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