15 June 2022
Clifford Chance advises de Volksbank on its inaugural issue of EUR 300 million Green Tier 1 Capital Securities
International law firm Clifford Chance advised de Volksbank on its inaugural issue of EUR 300 million Green Tier 1 Capital Securities. The Capital Securities have been listed on the Luxembourg Stock Exchange.
This transaction concerns the second Green Tier 1 Capital Securities issue by a European bank. Like its issues of Green Tier 2 Notes in July 2020 and Green SNP Notes in February and June 2021, this offering of Green Tier 1 Capital Securities perfectly matches the Volksbank's core business and long-term sustainability ambitions. More information about de Volksbank and the offering memorandum here.
The transaction's joint lead managers are Goldman Sachs, ING Bank, Société Générale, Morgan Stanley and UBS.
De Volksbank is a bank with a focus on the Dutch market and a strong expertise in offering understandable and transparent mortgage, savings and payment products to private individuals and smaller companies as well as insurance and investment services.
This transaction builds on Clifford Chance's market-leading Debt Capital Markets practice and sector expertise in green financing and the structuring of capital securities. The Clifford Chance team was led by Jurgen van der Meer and Dewi Walian and consisted of Gesrow Hamid and Marte Schaaf (Global Financial Markets), Nolan Groenland and Robin Houtveen (Tax).