NN Bank prices inaugural EUR 500 million Covered Bonds
4 October 2017 | NN Bank prices inaugural EUR 500 million Covered Bonds
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NN Bank announcedtoday that it has priced its inaugural EUR 500 million Conditional Pass-ThroughCovered Bonds. The bonds, which were placed with a broad range of institutionalinvestors, have a tenor of 7 years and a fixed coupon of 0.5%.
The covered bondsare 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 issuedunder NN Bank’s EUR 5 billion ConditionalPass-Through Covered Bond Programme, for whichthe Base Prospectus dated 20 September 2017 is available on our website. The Base Prospectus has been approvedby the Netherlands Authority for the Financial Markets (AFM).
The NN BankCovered Bond Programme increases the bank’s flexibility to address its ongoingfunding needs by further diversifying its sources of funding.
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