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New Issue-Travelers Cos sells $1.5 bln notes in 3 parts

Wed May 23, 2007 5:46pm EDT
 
 May 23 (Reuters) - The Travelers Companies, Inc. on
Wednesday sold $1.5 billion in three-part notes, said joint
lead manager Deutsche Bank Securities, Inc.
 Banc of America Securities LLC and Wachovia Securities,
Inc. were the other joint lead managers for the sale.
BORROWER: THE TRAVELERS COMPANIES, INC.
FIRST TRANCHE:
AMT $250 MLN        COUPON 5.375 PCT  MATURITY 6/15/2012   
TYPE NOTES          ISS PRICE 99.518  FIRST PAY 12/15/2007 
MOODY'S A3          YIELD N/A         SETTLEMENT 5/29/2007 
S&P A-MINUS         SPREAD 70 BPS     PAY FREQ SEMI-ANNUAL 
FITCH SINGLE-A       MORE THAN TREAS  MAKE-WHOLE-CALL 12.5 BPS
                                    MORE THAN TREAS
SECOND TRANCHE:
AMT $450 MLN        COUPON 5.75 PCT   MATURITY 12/15/2017   
TYPE NOTES          ISS PRICE 99.738  FIRST PAY 12/15/2007 
MOODY'S A3          YIELD N/A         SETTLEMENT 5/29/2007 
S&P A-MINUS         SPREAD 92 BPS     PAY FREQ SEMI-ANNUAL 
FITCH SINGLE-A       MORE THAN TREAS  MAKE-WHOLE-CALL 15 BPS
                                    MORE THAN TREAS
THIRD TRANCHE:
AMT $800 MLN        COUPON 6.25 PCT   MATURITY 6/15/2037   
TYPE NOTES          ISS PRICE 98.648  FIRST PAY 12/15/2007 
MOODY'S A3          YIELD N/A         SETTLEMENT 5/29/2007 
S&P A-MINUS         SPREAD 132 BPS    PAY FREQ SEMI-ANNUAL 
FITCH SINGLE-A       MORE THAN TREAS  MAKE-WHOLE-CALL 20 BPS
                                    MORE THAN TREAS

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