A story in the Feb. 2 issue of the Prospect News Investment Grade Daily incorrectly reported the coupon of floating-rate notes due 2012 offered by ING Bank. The correct coupon of the notes was three-month Libor plus 80 basis points. A corrected version of the story follows:
By Andrea Heisinger
New York, Feb. 3 - ING Bank priced $6 billion of notes (Aaa/AAA/AAA) in two tranches that are backed by the Netherlands government, an informed source said.
A $5 billion tranche of 2.625% notes due Feb. 9, 2012 priced at 99.702 to yield Treasuries plus 143.3 basis points.
A $1 billion tranche of floating-rate notes also due Feb. 9, 2012 priced at par to yield three-month Libor plus 80 bps.
Both tranches are non-callable and priced under Rule 144A.
Citigroup Inc., HSBC Securities and J.P. Morgan Securities Inc. ran the books.
The banking subsidiary of ING Groep NV is based in Amsterdam.
Issuer: | ING Bank
|
Issue: | Notes backed by Netherlands government
|
Total amount: | $6 billion
|
Bookrunners: | Citigroup Inc., HSBC Securities, J.P. Morgan Securities Inc.
|
Distribution: | Rule 144A
|
Trade date: | Jan. 30
|
Settlement date: | Feb. 9
|
Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
|
Fixed-rate notes
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Amount: | $5 billion
|
Issue: | Fixed-rate notes
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Maturity: | Feb. 9, 2012
|
Coupon: | 2.625%
|
Price: | 99.702
|
Spread: | Treasuries plus 143.3 bps
|
Call: | Non-callable
|
|
Floating-rate notes
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Amount: | $1 billion
|
Issue: | Floating-rate notes
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Maturity: | Feb. 9, 2012
|
Coupon: | Three-month Libor plus 80 bps
|
Price: | Par
|
Spread: | Three-month Libor plus 80 bps
|
Call: | Non-callable
|
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