By Cristal Cody
Tupelo, Miss., Nov. 18 – BNG Bank NV (Aaa/AAA/AA+) priced a $1 billion offering of 0.5% five-year senior sustainable notes on Tuesday at mid-swaps plus 10 basis points, or a spread of Treasuries plus 16.45 bps, according to a market source.
The Rule 144A and Regulation S notes were initially talked to price in the mid-swaps plus 14 bps area.
Bookrunners were BMO Capital Markets Corp., Scotia Capital (USA) Inc. and TD Securities (USA) LLC.
The banking services company, formerly known as N.V. Bank Nederlandse Gemeenten, is based in The Hague, Netherlands.
| Issuer: | BNG Bank NV
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| Amount: | $1 billion
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| Description: | Senior sustainable notes
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| Maturity: | Nov. 24, 2025
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| Bookrunners: | BMO Capital Markets Corp., Scotia Capital (USA) Inc. and TD Securities (USA) LLC
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| Coupon: | 0.5%
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| Spread: | Mid-swaps plus 10 bps, or Treasuries plus 16.45 bps
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| Trade date: | Nov. 17
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| Ratings: | Moody’s: Aaa
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| S&P: AAA
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| Fitch: AAA
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| Distribution: | Rule 144A and Regulation S
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| Price talk: | Mid-swaps plus 14 bps area
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