De Volksbank issues € 500 million of green senior non-preferred notes
On 14 October 2024, de Volksbank successfully issued € 500 million of green senior non-preferred (SNP) notes. The notes have a term of 7 years and a coupon of 3.625%.
The issuance is in line with de Volksbank’s capital planning, which is based on meeting the MREL requirements as from January 2024 with subordinated instruments, i.e. Tier 1 capital, Tier 2 capital and SNP notes with a residual contractual maturity of at least one year.
The SNP notes were issued under de Volksbank’s Green Bond Framework, which has been assessed against the EU Taxonomy as of September 2023 by ISS-ESG. For more information on our Green Bond Framework, please refer to our website.
The green SNP notes will be listed on the Luxembourg Stock Exchange.
Facts of the issue
| Issue size | € 500 million |
| ISIN | XS2922125344 |
| Issue price | 99,897% |
| Coupon | 3,625% |
| Settlement date | 21 October 2024 |
| Format | Redemption date: 21 October 2031 |
| Expected ratings | Baa1 (Moody’s) / A- (Fitch) |
