Senior Non-Preferred Law is passed by Dutch Parliament

The Dutch Parliament and Senate have passed a bill to implement EU Directive 2017/2399 which introduces certain changes to the creditor hierarchy in Dutch law to facilitate a new category of unsecured debt, the “senior non-preferred” debt.

The effective date of the law coming into effect, in the Netherlands is 14 December 2018 (the “Effective Date”).

Prior to the Effective Date, Coöperatieve Rabobank U.A. (“Rabobank”) issued three Series of Notes (identified below), which, upon the implementation of the EU Directive 2017/2399 in Dutch law, would automatically convert into non-preferred senior notes.

Accordingly, the ranking and status of the following notes has automatically converted into non-preferred senior debt of Rabobank:

EUR 1,000,000,000 0.75 per cent. Non-Preferred Senior Notes 2018 due 29 August 2023 (Series 3180A, ISIN: XS1871439342)

USD 1,000,000,000 3.875 per cent. Non-Preferred Senior Notes 2018 due 26 September 2023 (Series 3185A, ISIN Rule 144A: US74977RDE18, ISIN Regulation S: US74977SDE90)

USD $250,000,000 Floating Rate Non-Preferred Senior Notes 2018 due 2023 (Series 3184A, ISIN Rule 144A: US74977RDD35, ISIN Regulation S: US74977SDD18).

Published: 14 December 2018, 18:15 CET


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