New Issue: Bank Nederlandse prices $1.5 billion 0.875% three-year notes at mid-swaps plus 18 bps

By Aleesia Forni

Virginia Beach, Feb. 11 - Bank Nederlandse Gemeenten priced $1.5 billion of 0.875% three-year notes (Aaa/AA+/AAA) on Tuesday with a spread of 18 basis points over mid-swaps, according to a market source.

Guidance for the Rule 144A and Regulation S deal was set in the mid-swaps plus "high teens" bps area.

The bookrunners were BofA Merrill Lynch, Deutsche Bank Securities Inc., RBS Securities Inc. and TD Securities.

The local government funding agency is based in the Hague, the Netherlands.

Issuer:	Bank Nederlandse Gemeenten
Amount:	$1.5 billion
Description:	Notes
Maturity:	Feb. 21, 2017
Bookrunners:	BofA Merrill Lynch, Deutsche Bank Securities Inc., RBS Securities Inc., TD Securities
Coupon:	0.875%
Spread:	Mid-swaps plus 18 bps
Trade date:	Feb. 11
Settlement date:	Feb. 21
Ratings:	Moody's: Aaa
	Standard & Poor's: AA+
	Fitch: AAA
Price talk:	Mid-swaps plus high teens bps area
Distribution:	Rule 144A, Regulation S

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