By Cristal Cody
Tupelo, Miss., Oct. 8 – BNG Bank NV (Aaa/AAA/AA+) priced a $1 billion offering of 1.5% five-year sustainability bonds on Tuesday at mid-swaps plus 18 basis points, or a spread of Treasuries plus 15.7 bps, according to a market source.
Initial price talk on the bonds was in the mid-swaps plus 20 bps area.
Citigroup Global Markets Inc., HSBC Securities (USA) Inc. and TD Securities (USA) LLC were the bookrunners of the Rule 144A- and Regulation S-eligible transaction.
BNG Bank held fixed income investor calls on Thursday for the deal.
The banking services company, formerly known as Bank Nederlandse Gemeenten NV, is based in The Hague, Netherlands.
| Issuer: | BNG Bank NV
|
| Amount: | $1 billion
|
| Description: | Sustainability bonds
|
| Maturity: | Oct. 16, 2024
|
| Bookrunners: | Citigroup Global Markets Inc., HSBC Securities (USA) Inc. and TD Securities (USA) LLC
|
| Coupon: | 1.5%
|
| Spread: | Mid-swaps plus 18 bps, or Treasuries plus 15.7 bps
|
| Trade date: | Oct. 8
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
| Fitch: AA+
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Mid-swaps plus 20 bps area
|
| Marketing: | Fixed income investor calls
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
