Sept. 7 (Bloomberg) -- BNP Paribas SA, France’s largest bank, raised $1.25 billion selling five-year notes.
The 2.375 percent securities yield 178 basis points more than similar-maturity Treasuries, according to data compiled by Bloomberg. The bonds may be rated A2 by Moody’s Investors Service, its sixth level of investment grade.
BNP Paribas last sold fixed-rate, dollar-denominated debt of benchmark size in February 2011, issuing $2.15 billion of 3.6 percent, five-year notes that paid a relative yield of 135 basis points to benchmarks, Bloomberg data show.
Those securities traded at 105.1 cents on the dollar Sept. 5 to yield 2.1 percent, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority. A basis point is 0.01 percentage point.
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