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NN Bank announced today that it has priced its inaugural EUR 500 million Conditional Pass-Through Covered Bonds. The bonds, which were placed with a broad range of institutional investors, have a tenor of 7 years and a fixed coupon of 0.5%.
The covered bonds are backed by Dutch prime residential mortgage loans, are rated AAA by Standard & Poor’s Rating Services and will be listed on Euronext Amsterdam (ISIN:NL0012650477).
The bonds were issued under NN Bank’s EUR 5 billion Conditional Pass-Through Covered Bond Programme, for which the Base Prospectus dated 20 September 2017 is available on our website. The Base Prospectus has been approved by the Netherlands Authority for the Financial Markets (AFM).
The NN Bank
Covered Bond Programme increases the bank’s flexibility to address its ongoing
funding needs by further diversifying its sources of funding.