Bloomberg Law
Aug. 30, 2018, 2:32 PM UTC

MetLife Breaks Ground With Benchmark Bond Based on Libor Heir

Alexandra Harris
Alexandra Harris
Bloomberg News
Paul Cohen
Paul Cohen
Bloomberg News
  • Set to be first benchmark-sized SOFR note by a non-SSA issuer


  • Two-year floating-rate note deal may be priced this week

MetLife Inc. is set to give a boost to the new key dollar funding rate that’s been designed to replace Libor, with the U.S. insurer gauging interest from investors in a benchmark-sized bond deal tied to the secured overnight financing rate.

A debt-issuing unit of the company plans to sell two-year floating-rate notes linked to SOFR as early as this week, according to a person familiar with the matter, who asked not to be identified because they’re not authorized to ...

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