Published on 7/15/2022 in the Prospect News Green Finance Daily.
New Issue: De Volksbank sells €300 million perpetual additional tier 1 green notes
By Marisa Wong
Los Angeles, July 15 – De Volksbank NV priced €300 million of 7% perpetual 5.5-year non-call additional tier 1 green notes (Ba1) at par, according to a notice.
The interest rate will reset for the first time on Dec. 15, 2027.
UBS Investment Bank, Goldman Sachs, ING Groep, Morgan Stanley and Societe Generale acted as managers.
The Dutch retail bank is based in Utrecht, Netherlands.
| Issuer: | De Volksbank NV
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| Amount: | €300 million
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| Description: | Additional tier 1 green notes
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| Maturity: | Perpetual
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| Managers: | UBS Investment Bank, Goldman Sachs, ING Groep, Morgan Stanle and Societe Generale
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| Coupon: | 7% starting rate, resets for the first time on Dec. 15, 2027
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| Price: | Par
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| Call option: | Non-callable for 5.5 years
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| Pricing date: | June 8
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| Announcement date: | July 15
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| Rating: | Moody’s: Ba1
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