Covered bonds
As part of its funding strategy, NN Bank raises secured funding. It primarily relies on the issuance of Soft Bullet covered bonds as the main secured funding source to finance balance sheet growth.
Soft Bullet Covered Bond Programme
In June 2020, NN Bank established a Soft Bullet Covered Bond Programme, backed by Dutch prime residential mortgage loans. This programme is used for funding purposes (capital market covered bond issuances) and liquidity purposes (retained covered bond issuances). Prior to the launch of the Soft Bullet Covered Bond Programme, NN Bank used a Conditional Pass-Through (CPT) Covered Bond Programme. Following a successful consent solicitation in April 2022, all former CPT covered bonds novated to the Soft Bullet Covered Bond Programme. In May 2022 the CPT Covered Bond Programme was terminated. Documentation of the CPT Programme is available on request.
Programme Documentation
| Year | Type | Date of publication | Documentation |
| 2025 | Soft Bullet Covered Bond Programme | 23 July 2025 | Base Prospectus |
| 2025 | Supplement to the Base Prospectus | 18 February 2025 | 1st Supplement of the Base Prospectus |
Final Terms
The following bonds have been issued under the Soft Bullet Covered Bond Programme for funding purposes:
| Series name | ISIN Code | Amount | Fixed coupon | Due date | Documentation |
| 17(2) (Green) | NL0015002G06 | €250,000,000 | 3.000% | 21 March 2025 | Final Terms |
| 17 (Green) | NL0015002G06 | €500,000,000 | 3.000% | 21 March 2025 | Final Terms |
| 16 | NL0015001R87 | €750,000,000 | 3.625% | 16 October 2026 | Final Terms |
| 13 (Green) | NL0015001BV1 | €750,000,000 | 3.250% | 28 May 2027 | Final Terms |
| 12 (Green) | NL0015000WP1 | €500,000,000 | 1.875% | 17 May 2032 | Final Terms |
| 11 | NL0013995095 | €500,000,000 | 0.125% | 24 September 2029 | Final Terms |
| 10 | NL0013423155 | €20,000,000 | 1.432% | 21 March 2039 | Final Terms |
| 9 | NL0013423122 | €25,000,000 | 1.400% | 18 March 2039 | Final Terms |
| 7(2) | NL0013088990 | €50,000,000 | 1.000% | 25 September 2028 | Final Terms |
| 7 | NL0013088990 | €500,000,000 | 1.000% | 25 September 2028 | Final Terms |
| 4 | NL00150008B6 | €500,000,000 | 0.375% | 4 March 2041 | Final Terms |
| 3 | NL00150002A1 | €250,000,000 | 0.05% | 12 November 2040 | Final Terms |
| 2 | NL0015614611 | €500,000,000 | 0.05% | 24 September 2035 | Final Terms |
| 1 | NL0015436072 | €500,000,000 | 0.01% | 8 July 2030 | Final Terms |
Retained Final Terms
The following bonds have been issued under the Soft Bullet Covered Bond Programme and are retained by NN Bank to create collateral for liquidity purposes:
| Series name | ISIN Code | Amount | Fixed coupon | Due date | Documentation |
| 15 | NL0015001MU0 | €750,000,000 | 3.295% | 6 September 2030 | Final Terms |
| 14 | NL0015001GS6 | €1,250,000,000 | 3.195% | 9 June 2032 | Final Terms |
Investor Presentations
| Year | Type | Date of publication | Documentation |
| 2025 | NN Bank Soft Bullet Covered Bond Programme | 9 September 2025 | Investor Presentation |
| 2025 | NN Bank Soft Bullet Covered Bond Programme | 1 May 2025 | Investor Presentation |
Other Documentation
Covered Bond Company Annual Reports
Investor Reports
| Month | National Transparency Template | Harmonised Transparency Template |
| July | NTT SB 2025-7 | HTT SB 2025-7 |
| June | NTT SB 2025-6 | HTT SB 2025-6 |
| May | NTT SB 2025-4 | HTT SB 2025-5 |
| April | NTT SB 2025-4 | HTT SB 2025-4 |
| March | NTT SB 2025-3 | HTT SB 2025-3 |
| February | NTT SB 2025-2 | HTT SB 2025-2 |
| January | NTT SB 2025-1 | HTT SB 2025-1 |
Further Information
Please follow the links provided to find out more information on Covered Bonds.