By Andrea Heisinger
New York, March 8 - ING Bank NV priced $3.25 billion of notes (Aa3/A+/A+) in two parts late on Tuesday under Rule 144A, an informed source said.
The $2 billion of two-year floating-rate notes priced at par to yield three-month Libor plus 105 basis points.
A $1.25 billion tranche of 4% five-year notes sold at 99.946 to yield 4.012% with a spread of Treasuries plus 180 bps.
Both tranches are non-callable.
Bookrunners were Barclays Capital Inc., Goldman Sachs & Co., ING Securities and RBC Capital Markets Corp.
Proceeds are being used for general corporate purposes.
The retail bank is based in Amsterdam.
| Issuer: | ING Bank NV
|
| Issue: | Notes
|
| Amount: | $3.25 billion
|
| Bookrunners: | Barclays Capital Inc., Goldman Sachs & Co., ING Securities, RBC Capital Markets Corp.
|
| Distribution: | Rule 144A
|
| Trade date: | March 8
|
| Settlement date: | March 15
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: A+
|
| Fitch: A+
|
|
|
| Two-year floaters
|
| Amount: | $2 billion
|
| Maturity: | March 15, 2013
|
| Coupon: | Three-month Libor plus 105 bps
|
| Price: | Par
|
| Yield: | Three-month Libor plus 105 bps
|
| Call: | Non-callable
|
|
|
| Five-year notes
|
| Amount: | $1.25 billion
|
| Maturity: | March 15, 2016
|
| Coupon: | 4%
|
| Price: | 99.946
|
| Yield: | 4.012%
|
| Spread: | Treasuries plus 180 bps
|
| Call: | Non-callable
|
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