By Andrea Heisinger
New York, March 14 - Bank Nederlandse Gemeenten sold $2.5 billion of 1.375% three-year notes on Wednesday at a spread of mid-swaps plus 68 basis points, or Treasuries plus 93.75 bps, a source close to the trade said.
The notes (Aaa/AAA/) were priced at the tight end of guidance in the mid-swaps plus 70 bps area, the source said.
The non-callable paper sold at 99.643.
The deal was done under Rule 144A and Regulation S.
Barclays Capital Inc., Citigroup Global Markets Inc. and RBC Capital Markets LLC ran the books.
The issuer provides financing for publicly owned organizations and is based in The Hague, the Netherlands.
| Issuer: | Bank Nederlandse Gemeenten
|
| Issue: | Notes
|
| Amount: | $2.5 billion
|
| Maturity: | March 23, 2015
|
| Bookrunners: | Barclays Capital Inc., Citigroup Global Markets Inc., RBC Capital Markets LLC
|
| Coupon: | 1.375%
|
| Price: | 99.643
|
| Spread: | Mid-swaps plus 68 bps, Treasuries plus 93.75 bps
|
| Call: | Non-callable
|
| Distribution: | Rule 144A, Regulation S
|
| Trade date: | March 14
|
| Settlement date: | March 23
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Price talk: | Mid-swaps plus 70 bps area
|
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