Successful EUR 1 billion 3-year benchmark issuance completed for financing public sector

We successfully issued a €1 billion 3-year benchmark bond on Thursday, October 23 2025. The issuance was received with great enthusiasm, resulting in oversubscribed demand of nearly € 2 billion and demonstrating the robust support of our Euro investor base.

The proceeds of the bond will directly benefit the financing needs of the Dutch public sector. This transaction brings us one step closer to achieving our total financing target of €11-13 billion for 2025, of which approximately 95% has already been achieved.

 

Transaction summary:

Borrower

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

Ratings

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

Format

RegS, Bearer

Coupon

2.125%, Fixed, Annual, Act/Act

Size

EUR 1 billion

Payment Date

30th October 2025

Maturity Date

30th October 2028

Reoffer Spread

MS+ 8 bp

Reoffer Price / Yield

99.736% / 2.217%

Denomination

EUR 100,000 / EUR 1,000

Listing

Luxembourg Stock Exchange 

Joint Lead Managers

BNP Paribas, HSBC, ING, and Morgan Stanley

ISIN

XS3219429621
 

 

Ismail Aouden.jpgIsmail Aouden, Treasury Officer at NWB Bank, shares his enthusiasm:

"This transaction is clear evidence of the trust that a diverse, international investor base has placed in us. It's a fantastic achievement to attract nearly 50 high-quality investors. Best of all, this successful benchmark directly contributes to favorable financing conditions for the Dutch public sector. That’s what motivates me!"

 

 

 

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