NWB Bank issues its first EURO benchmark of 2025 - 5Y EUR 2 bln

On Thursday 15th of May 2025, we have successfully issued a 5-year EUR 2 billion benchmark bond. This benchmark bond shows our commitment to the EURO investor base. The issuance has been met with a large demand of over EUR 4.3 bln. allowing us to achieve a EUR 2 bln. size, matching the largest issuance by NWB Bank. The proceeds of this bond are used to finance the Dutch public sector clients of NWB Bank. In our funding plan for 2025 we expect to raise €11 to 13 billion long-term funds in the international capital markets, of which approximately 60% is completed.

Borrower	NEDERLANDSE WATERSCHAPSBANK N.V. (“NWB Bank”)
Ratings	Aaa Stable (Moody’s) / AAA Stable (S&P)
Coupon	2.5%, Fixed, Annual, Act/Act
Size	EUR 2 billion
Pricing Date	15th May 2025
Payment Date	22nd May 2025
Maturity Date	22nd May 2030
Reoffer Spread	MS+31bp
Reoffer Price / Yield	99.564% / 2.594%
Joint Lead Managers	ABN AMRO, Citi, LBBW, Société Générale

 

“This transaction shows the appeal of NWB Bank in the capital markets with attracting a diversified, high quality investor base of 100 investors from all over Europe, Asia and the Middle East/Africa. It makes me proud that this benchmark contributes to achieving advantageous financing conditions for the Dutch public sector”, says Zeynep Barutçu, Treasury Officer at NWB Bank.