SNS Bank

23 Jan 2009

Guarantor: State of the Netherlands
Rating: Aaa/AAA/AAA
Amount: Eu2bn
Maturity: 30 January 2012
Issue/reoffer price: 99.683
Coupon: 2.875%
Spread at re-offer: 50bp over mid-swaps; 139.5bp over the OBL150
Launched: Thursday 22 January
Payment date: 30 January
Joint books: BNP Paribas, Credit Suisse, HSBC, ING, Rabobank

Bookrunners’ comment:

This almost feels like the inaugural transaction out of ...

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