NIBC further extends its funding profile with the issuance of another EUR 500 million 10 years covered bond transaction

Today, NIBC successfully launched its sixth EUR 500 million conditional pass-through covered bond issue. In a busy market the order book reached well in excess of EUR 800 million, supported by more than 50 investors from across Europe. Following initial guidance of MS+17 (Mid Swaps +17 basis points), the solid order book allowed final pricing to be set at MS+15. With the 10 years maturity of this transaction NIBC further extends its funding profile. The syndicate for this trade consisted of ABN AMRO, ING, LBBW, NIBC Bank and UniCredit.

The bonds are expected to be rated AAA by both S&P and Fitch. NIBC’s conditional pass-through covered bond programme is Dutch law based and backed by a pool of Dutch residential mortgage loans. The programme is registered with the Dutch Central Bank and ECBC Covered Bond Label, UCITS and CRD compliant.

Following the 10 years transaction in January of this year, today’s trade marks the third 10 years benchmark for NIBC and its sixth benchmark in total under its innovative and award-winning conditional pass-through covered bond programme.

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