Societe Generale prices USD1.75bn Additional Tier 1 at 7.875%

Wed Dec 11, 2013 2:55pm EST

NEW YORK, Dec 11 (IFR) - Societe Generale priced a USD1.75bn perpetual non-call 10-year Additional Tier 1 with a coupon of 7.875% on Wednesday, the same level it launched the deal earlier. The deal attracted USD17.5bn of demand.

The final coupon was at the tight end of the 7.875%-8% guidance, which was refined from initial price thoughts set at very low 8% area late on Tuesday.

Societe Generale is the bookrunner with JP Morgan and Morgan Stanley as joint lead managers.

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