By Andrea Heisinger
New York, Jan. 7 - ING Bank NV sold $1.75 billion of notes (Aa3/A+/A+) in two tranches on Thursday, a source close to the offering said.
A $750 million tranche of two-year floating-rate notes priced at par to yield three-month Libor plus 63 basis points.
A $1 billion tranche of 2.65% three-year notes priced at 99.805 to yield 2.718%, or Treasuries plus 115 bps.
The notes were priced via Rule 144A and are non-callable.
Deutsche Bank Securities, Goldman Sachs & Co. and ING Securities were the bookrunners.
Proceeds are being used for general corporate purposes.
The unit of financial services company ING Groep NV is based in Amsterdam.
| Issuer: | ING Bank NV
|
| Issue: | Notes
|
| Amount: | $1.75 billion
|
| Bookrunners: | Deutsche Bank Securities, Goldman Sachs & Co., ING Securities
|
| Distribution: | Rule 144A
|
| Trade date: | Jan. 7
|
| Settlement date: | Jan. 14
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: A+
|
| Fitch: A+
|
|
|
| Two-year floaters
|
| Amount: | $750 million
|
| Maturity: | Jan. 13, 2012
|
| Coupon: | Three-month Libor plus 63 bps
|
| Price: | Par
|
| Yield: | Three-month Libor plus 63 bps
|
| Call: | Non-callable
|
|
|
| Three-year floaters
|
| Amount: | $1 billion
|
| Maturity: | Jan. 14, 2013
|
| Coupon: | 2.65%
|
| Price: | 99.805
|
| Yield: | 2.718%
|
| Spread: | Treasuries plus 115 bps
|
| Call: | Non-callable
|
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