NIBC successfully launched a EUR 500 million conditional pass-through covered bond issue

Corporate News -

On 8 October, NIBC announced a new public benchmark under it conditional pass-through covered bond programme. The EUR 500 million transaction has a maturity of 10 years and a fixed rate coupon of 0.01%. The order book grew rapidly and reached EUR 1.2 billion. This high oversubscription allowed NIBC to tighten its initial spread from MS+25 to a final re-offer spread of MS+21, representing a yield of 0.046%.

The order book was made up of more than 60 investors. The German and Austrian investor bases were the largest contributors to the book with 67% of allocated orders, followed by the Nordics, Benelux and France. Asset managers were the biggest buyers, followed by banks. This transaction was joint-lead managed by ING, LBBW, NordLB, NatWest Markets and NIBC.

Welcome to

We, NIBC Bank N.V., use functional cookies to ensure that this website works properly. We’d also like to place optional analytical cookies on your device which enable us to collect information about the use of this website, so that we can offer you an optimised website experience. You can choose not to provide your consent for the use of analytical cookies. If you do consent, you can withdraw your consent at any time. You can find more information in our Cookie Policy and our Privacy Statement.

I hereby provide my consent for placing analytical cookies