Nederlandse Waterschapsbank sets guidance for $150 million add-on to floaters due 2018

By Aleesia Forni

Virginia Beach, Feb. 19 - Nederlandse Waterschapsbank NV is planning to price a $150 million tap of its existing floating-rate notes (Aaa/AA+/) due 2018 with a coupon of Libor plus 23 basis points, according to a market source.

Yield is talked at Libor plus 22 bps.

HSBC Securities and RBS Securities Inc. are managing the sale.

The original $350 million issue priced at par in a Rule 144A and Regulation S sale on Feb. 7.

The issuer provides loans to municipalities and other public programs and is based in the Hague, Netherlands.

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