By Andrea Heisinger
New York, Nov. 27 - ING Bank NV was in the market on Tuesday with a $1.5 billion offering of 2.625% 10-year covered bonds (Aaa//AAA) priced at mid-swaps plus 98 basis points, or Treasuries plus 101.8 bps, a market source said.
Pricing was at 99.668 to yield 2.663%. There is no call option.
The sale was done under Rule 144A and Regulation S.
Barclays and Deutsche Bank Securities Inc. were the active bookrunners. Passive bookrunners were ING Securities and RBC Capital Markets LLC.
The financial services company is based in Amsterdam.
| Issuer: | ING Bank NV
|
| Issue: | Covered bonds
|
| Amount: | $1.5 billion
|
| Maturity: | Dec. 5, 2022
|
| Bookrunners: | Barclays, Deutsche Bank Securities Inc. (active), ING Securities, RBC Capital Markets LLC (passive)
|
| Coupon: | 2.625%
|
| Price: | 99.668
|
| Yield: | 2.663%
|
| Spread: | Mid-swaps plus 98 bps, Treasuries plus 101.8 bps
|
| Call: | Non-callable
|
| Distribution: | Rule 144A and Regulation S
|
| Trade date: | Nov. 27
|
| Settlement date: | Dec. 5
|
| Ratings: | Moody's: Aaa
|
| Fitch: AAA
|
© 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.
