NWB Bank issues its first USD $1.25 billion benchmark deal of the year (RegS /144A)

On Tuesday 17th March 2026, we have successfully issued a 5-year $1.25 billion benchmark bond. This benchmark shows our commitment to the USD investor base and maintaining the liquidity in our USD benchmark curve. The issuance has been met with high quality demand from all geographies and allowed for pricing close to US Treasuries.

Borrower

NEDERLANDSE WATERSCHAPSBANK N.V. (“NWB Bank”)

Ratings

Aaa Stable (Moody’s) / AAA Stable (S&P)

Coupon

3.75%, Fixed, Semi-annual, 30/360

Size

USD 1.25 billion

Pricing Date

17 March 2026

Payment Date

24 March 2026

Maturity Date

24 March 2031

Reoffer Spread

SOFR MS+37bp

Reoffer Price / Yield

99.486% / 3.864%

Joint Lead Managers

Banco Santander, Barclays Bank, JP Morgan, TD 

 

“This is my first benchmark issued since I started as CCLO aElvira Eurlings - 014.jpgt NWB Bank in January 2026. It makes me proud that we can mobilise high quality funds from all geographies in the world to fund our Dutch public sector clients​​​​​. ”, says Elvira Eurlings, Chief Capital Markets & Lending Officer at NWB Bank.

 

More details in the figures below

Slide5.PNG

benchmark March 2026.png

 

More information?

Contact
Press and Media
For questions, send us an email.
Send me an email