Bank Nederlandse Gemeenten NV

  • 15 Aug 2002
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Rating: Aaa/AAA/AAA

Amount: £100m

Maturity: December 7, 2006

Issue/re-offer price: 99.512

Coupon: 4.625%

Spread at re-offer: 27.1bp over the 7.5% December 2006 Gilt

Launched: Thursday August 15

Sole mgr: RBS

Bookrunner's comment:

The short end has been very active over the past six to eight weeks and we have been looking for an opportunity to bring an issue. We decided to go with BNG and all we were waiting for was a little spread widening to make sure we had the right type of investor interest. This was coming from two places - Asia, where there are significant funds that will buy big chunks of triple-A sterling bonds, and the UK.

Swaps widened this week and we were able to get to a level they were happy with.

We had some serious lead interest and the deal was 70% done on the first day. The issue was swapped back to Euribor and RBS did that too.

It is re-offered at Gilts plus 27.1bp and is placing around that level.

  • 15 Aug 2002

All International Bonds

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 JPMorgan 92.59 388 8.96%
2 Citi 85.30 278 8.25%
3 BofA Securities 63.15 265 6.11%
4 Barclays 58.01 223 5.61%
5 Deutsche Bank 55.74 184 5.39%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 60.87 123 14.06%
2 Credit Agricole CIB 28.59 93 6.60%
3 Santander 25.41 90 5.87%
4 JPMorgan 23.88 61 5.52%
5 UniCredit 21.51 103 4.97%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 2.07 11 10.42%
2 BofA Securities 1.40 6 7.01%
3 Citi 1.37 7 6.87%
4 Morgan Stanley 1.36 6 6.85%
5 JPMorgan 1.31 7 6.59%