BNG Bank talks dollar two-year notes at mid-swaps plus 5 bps area

By Cristal Cody

Tupelo, Miss., Jan. 7 – BNG Bank NV (Aaa/AAA/AA+) marketed a benchmark-sized dollar-denominated offering of two-year fixed-rate notes on Monday, according to an informed source.

The Rule 144A and Regulation S notes due Jan. 15, 2021 are initially talked to price on Tuesday with a spread in the mid-swaps plus 5 basis points area.

BMO Capital Markets Corp., BNP Paribas Securities Corp., Citigroup Global Markets Inc. and J.P. Morgan Securities LLC are the bookrunners.

The deal is expected to settle on Jan. 15.

BNG Bank, formerly known as Bank Nederlandse Gemeenten NV, is a banking services company based in The Hague, Netherlands.

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