INBS hires banks for note sale

Irish Nationwide Building Society, the customer-owned Irish lender planning to abandon mutual status and seek a buyer, has hired banks to manage a floating-rate note sale in euros.

BNP Paribas and Danske Bank A/S will arrange the sale, the statement said. DZ Bank AG and Landesbank Baden-Wuerttemberg will also help manage the trade as joint-lead managers.

The bonds will be sold in early September.

Moody’s Investors Service rates the Dublin-based borrower A3, the seventh-highest investment grade rating.