EAPB member NWB Bank issues another Social Bond
07 May 2018For the third time NWB Bank has successfully launched an Affordable Housing Bond (Social Bond). This time the bank has issued a 20-year €500 million benchmark Affordable Housing Bond. The proceeds of the issue of the bond will be credited to a special budget account that will support NWB Bank lending for social housing activities.
“Last year we successfully entered the Social Bond market. This 20-year Affordable Housing Bond also generated significant interest and is well oversubscribed. NWB Bank thus underpins its role as a sustainable financial partner for the public sector and, just as is the case with our Water Bonds, the bank reaches many new investors with a specific interest in environmental and social impact through such bonds” says Tom Meuwissen, General Manager Treasury of NWB Bank.
The Housing Bond will be issued under the €60,000,000,000 Debt Issuance Program on 27 April 2018. The 20-year bond will be repaid in full on 27 April 2038. The coupon of the bond is 1.5% annually and the re-offer price is 99.350%. Lead managers for this transaction are Bank of America Merill Lynch, Citi and Crédit Agricole CIB. The notes of this Housing Bond will be listed on the Luxembourg Stock Exchange.
Nederlandse Waterschapsbank N.V., Rooseveltplantsoen 3, 2517 KR The Hague, the Netherlands
Media relations: Simon Zwagemakers, t +31 70 4166259 / +31 6 57457906 e persinfo@nwbbank.com
NWB Bank is a national promotional bank which aims to keep the financing costs for the public sector as low as possible. The bank primarily serves local and regional authorities (water authorities, municipalities and provinces), as well as institutions guaranteed by the government or local and regional authorities, such as housing associations and health care institutions. Its AAA/Aaa ratings and financial expertise allow the bank to actively respond to the needs of its clients, allowing the latter in turn to fulfil their role in society in the Netherlands to the fullest extent possible. As a significant bank, NWB Bank is supervised by the European Central Bank (ECB).
Learn more about NWB bank here: https://www.nwbbank.com/home-en