New Issue-Rabobank Nederland $1.5 bln T1 perp secs

May 29 (Reuters) - Dutch banking group Rabobank Nederland
on Friday sold $1.5 billion in noncumulative tier 1
fixed-to-float perpetual preferred securities in the 144a
private placement market, said IFR, a Thomson Reuters service.

Bank of America, Credit Suisse, and UBS were the joint
bookrunning managers for the sale.
BORROWER: RABOBANK NEDERLAND
AMT $1.5 BLN COUPON 11.00 PCT* MATURITY N/A
TYPE T1 PERP PFD ISS PRICE 100 FIRST PAY 9/30/2009
MOODY'S Aa2 YIELD 11.00 PCT* SETTLEMENT 6/4/2009
S&P AA-MINUS SPREAD N/A PAY FREQ N/A
FITCH N/A NON-CALLABLE 10
YEARS*
PAYS 11 PCT AND NON-CALLABLE UNTIL 6/30/2019, IF NOT CALLED,
STEPS TO 3 MONTH LIBOR + 1086.75 BPS