By William Gullotti and Cristal Cody
Buffalo, N.Y., Feb. 23 – BNG Bank NV priced $2 billion of 4.5% three-year notes at SOFR mid-swaps plus 32 basis points or, alternatively, at Treasuries plus 14.9 bps on Thursday, according to a market source.
Initial price talk was in the SOFR mid-swaps plus 36 bps area.
TD Global Finance Unltd. Co., Bank of Montreal Europe plc, Credit Agricole CIB and Nomura Financial Products Europe GmbH are the managers for the Rule 144A and Regulation S deal.
The private banking company is based in The Hague.
| Issuer: | BNG Bank NV
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| Amount: | $2 billion
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| Issue: | Notes
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| Maturity: | March 1, 2027
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| Managers: | TD Global Finance Unltd. Co., Bank of Montreal Europe plc, Credit Agricole CIB and Nomura Financial Products Europe GmbH
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| Coupon: | 4.5%
|
| Spread: | SOFR mid-swaps plus 32 bps or Treasuries plus 14.9 bps
|
| Pricing date: | Feb. 22
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | SOFR mid-swaps plus 36 bps area
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