By Andrea Heisinger
New York, March 12 - ING Bank priced $2 billion 3.9% five-year senior unsecured notes Thursday guaranteed by the Credit Guarantee Scheme of the State of the Netherlands, according to a press release.
The notes (Aaa/AAA/AAA) priced to yield Treasuries plus 145 basis points.
The notes are non-callable and were sold via Rule 144A to a variety of financial institutions in the United States, Europe, the Middle East and Asia.
Bookrunners were Banc of America Securities LLC, J.P. Morgan Securities Inc., ING Bank and Morgan Stanley & Co. Inc.
The financial institution, part of ING Group, is based in Amsterdam.
| Issuer: | ING Bank
|
| Issue: | Government-guaranteed senior unsecured notes
|
| Amount: | $2 billion
|
| Maturity: | 2014
|
| Bookrunners: | Banc of America Securities LLC, J.P. Morgan Securities Inc., Morgan Stanley & Co. Inc., ING Bank
|
| Coupon: | 3.9%
|
| Spread: | Treasuries plus 145 bps
|
| Call: | Non-callable
|
| Distribution: | Rule 144A
|
| Trade date: | March 12
|
| Settlement date: | March 19
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
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