Cleveland financial services company KeyCorp sold $750 million in three-year notes Tuesday in an offering that was raised from $500 million because of demand.
The 3.75% notes sold at 99.878 to yield 3.777%, or 225 basis points over Treasuries. That was at the tight end of preliminary price guidance, which had been in the range of 225-237.5 basis points over Treasuries. The proceeds from the issue are expected to be used for general corporate purposes.