By Marisa Wong and Cristal Cody
Los Angeles, Feb. 17 – Nederlandse Waterschapsbank NV, or NWB Bank, priced $1.5 billion of 4.875% two-year notes on Thursday with a spread of SOFR mid-swaps plus 19 basis points, or Treasuries plus 27.1 bps, according to a market source.
The notes were initially talked to price in the SOFR mid-swaps plus 22 bps area, as previously reported.
BMO, Daiwa, RBC and Scotia are the bookrunners for the Rule 144A and Regulation S offering.
The local government funding agency is based in The Hague.
| Issuer: | Nederlandse Waterschapsbank NV
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| Amount: | $1.5 billion
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| Issue: | Notes
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| Maturity: | Feb. 24, 2025
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| Bookrunners: | BMO, Daiwa, RBC and Scotia
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| Coupon: | 4.875%
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| Spread: | SOFR mid-swaps plus 19 bps, or Treasuries plus 27.1 bps
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| Pricing date: | Feb. 16
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| Distribution: | Rule 144A and Regulation S
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| Price talk: | SOFR mid-swaps plus 22 bps area
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