By Andrea Heisinger
Omaha, Oct. 9 - ING USA Global Funding priced $1.5 billion of floating-rate notes in two tranches Tuesday, market sources said.
A $750 million tranche of two year floating-rate notes priced at par with a coupon of one-month Libor plus 36 basis points. A second $750 million tranche of two-year floaters priced at par with a coupon of three-month Libor plus 30 bps.
Full terms were not available at press time Tuesday.
The offering was increased from $500 million.
Bookrunners were Banc of America Securities LLC, Deutsche Bank Securities Inc. and Morgan Stanley & Co., Inc.
| Issuer: | ING USA Global Funding
|
| Issue: | Floating-rate notes
|
| Total amount: | $1.5 billion
|
| Bookrunners: | Banc of America Securities LLC, Deutsche Bank Securities Inc. and Morgan Stanley & Co., Inc.
|
| Trade date: | Oct. 9
|
|
|
| First tranche
|
| Amount: | $750 million
|
| Term: | Two years
|
| Coupon: | One-month Libor plus 36 bps
|
| Price: | Par
|
| Yield: | One-month Libor plus 36 bps
|
|
|
| Second tranche
|
| Amount: | $750 million
|
| Term: | Two years
|
| Coupon: | Three-month Libor plus 30 bps
|
| Price: | Par
|
| Yield: | Three-month Libor plus 30 bps
|
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