Rabobank successfully completes EUR 1.5 billion bond issue
10-10-2011 | Other news
Rabobank Nederland today issued a new EUR1.5 billion 7-year benchmark transaction. This issue represents the first senior unsecured fixed rate transaction by a financial issuer since June 2011. The new issue, maturing on 17th October 2018, carries an annual coupon of 3.50% and was priced at a spread of MS + 125bps, equivalent to DBR 4.25% July 2018 + 201.6bps.
The issue enjoyed strong support from a broad range of European real money investors – most notably the UK (33% of orderbook), France (23%), Germany (11%) and Netherlands (10%); complemented by participation from accounts in other regions (Asia, Middle East and North America).
Summary Terms and Conditions for the Bond issue
| Issuer | Rabobank Nederland |
| Ratings | Aaa / AAA |
| Issue Amount | EUR 1.5 billion |
| Pricing Date | 10th October 2011 |
| Payment Date | 17th October 2011 |
| Maturity Date | 17th October 2018 |
| Re-offer Price / Yield | 99.270% / 3.620% annual |
| Coupon | 3.500% annual |
| Re-offer Spread | Mid-Swap + 125 bps |
| Joint Lead Managers | BofA Merrill Lynch, Citigroup, Credit Suisse, Rabobank International, RBC CM |
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