BNG talks $500 million three-year bonds at mid-swaps plus 6 bps area

By Devika Patel

Knoxville, Tenn., Oct. 30 – BNG Bank NV plans to price $500 million of fixed-rate bonds (Aaa/AAA/AA+) due Nov. 8, 2021, according to a market source.

The spread is being talked in the mid-swaps plus 6 bps area, with pricing expected Wednesday.

The bonds are non-callable.

BNP Paribas Securities Corp., Citigroup Global Markets Inc. and TD Securities (USA) LLC are the bookrunners for the Rule 144A and Regulation S offering.

Settlement is expected on Nov. 8.

Proceeds will be used for lending to the Dutch Housing Associations according to BNG’s sustainability framework for Dutch Social Housing Associations.

The bank is based in The Hague, Netherlands.

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