Chicago, March 8 NatWest Group plc priced a 500 million third social bond on Tuesday, according to a press release from the company.
The five-year senior bonds will come with four years of call protection.
The spread priced at mid-swaps plus 120 basis points.
The order book went above 1.75 billion. The 500 million size was set before pricing, a source noted.
The bookrunners were NatWest Markets, ING, Natixis and UniCredit.
NatWest Markets was the structuring adviser.
Proceeds will be used to refinance existing loans and finance new loans to women-led enterprises.
To support the transaction, the bank will create a dedicated pool of loans made to women-led sole traders and SMEs utilizing information derived from its records or sourced from Companies House, according to the press release.
The majority state-owned British banking and insurance holding company is based in Edinburgh.
| Issuer: | NatWest Group plc
|
| Amount: | 500 million
|
| Issue: | Social bonds
|
| Tenor: | Five years
|
| Bookrunners: | NatWest Markets, ING, Natixis and UniCredit
|
| Structuring adviser: | NatWest Markets
|
| Spread: | Mid-swaps plus 120 bps
|
| Call features: | Four years
|
| Trade date: | March 7
|
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