By Cristal Cody
Tupelo, Miss., April 5 – Nederlandse Waterschapsbank NV (Aaa/AAA/) priced $250 million in a reopening of its senior floating-rate notes due Aug. 9, 2019 on Thursday at Libor plus 1 basis point, according to a market source.
The notes were initially talked to price in the Libor plus 1 bp area.
NWB originally sold $1 billion of the notes on Jan. 31 at Libor plus 2 bps and priced a $250 million add-on on March 1 at Libor plus 2 bps. The total amount outstanding now is $1.85 billion.
BMO Capital Markets Corp. and Nomura Securities International, Inc. were the bookrunners.
The local government funding agency is based in The Hague, the Netherlands.
| Issuer: | Nederlandse Waterschapsbank NV
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| Amount: | $350 million reopening
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| Description: | Senior floating-rate notes
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| Maturity: | Aug. 9, 2019
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| Bookrunners: | BMO Capital Markets Corp. and Nomura Securities International, Inc.
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| Coupon: | Libor plus 2 bps
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| Yield: | Libor plus 1 bp
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| Trade date: | April 5
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| Ratings: | Moody’s: Aaa
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| S&P: AAA
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| Distribution: | Rule 144A, Regulation S
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| Price talk: | Libor plus 1 bp area
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| Total outstanding: | $1.85 billion, including $1 billion of notes priced Jan. 31 at Libor plus 2 bps and $250 million of notes priced March 1 at Libor plus 2 bps
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