ResCap launches $2.25 bln notes in 2 parts

Newswire

NEW YORK, May 22 (Reuters) - Residential Capital LLC launched $2.25 billion in notes in two parts, with pricing expected on Tuesday, said a market source familiar with the sale. The offering includes $1.0 billion in two-year floating-rate notes expected to have a coupon rate of 1.10 percentage points over the three-month London interbank offered rate. It also includes $1.25 billion in five-year notes expected to yield 1.83 percentage points over U.S. Treasuries. The joint lead managers ...

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