New Issue: ING Bank prices $1.25 billion extendible floaters to yield Libor plus 32 bps

By Andrea Heisinger

Omaha, Feb. 26 - ING Bank NV priced $1.25 billion extendible floating-rate notes (Aa1/AA) Tuesday with a six-year final maturity, market sources said.

The Rule 144A notes, which have a final maturity of March 26, 2014, priced at par and have a final coupon of three-month Libor plus 32 basis points.

Bookrunners were Merrill Lynch, Pierce, Fenner & Smith Inc. and Morgan Stanley & Co. Inc.

The financial services company is based in Amsterdam.

Issuer:	ING Bank NV
Issue:	Extendible floating-rate notes
Amount:	$1.25 billion
Maturity:	March 26, 2014 (final)
Bookrunners:	Merrill Lynch, Pierce, Fenner & Smith Inc., Morgan Stanley & Co. Inc.
Coupon:	Three-month Libor plus 32 bps (final)
Price:	Par
Yield:	Three-month Libor plus 32 bps (final)
Trade date:	Feb. 26
Settlement date:	March 4
Distribution:	Rule 144A
Ratings:	Moody's: Aa1
	Standard & Poor's: AA

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