Clifford Chance

Clifford Chance Amsterdam advises the Joint Lead Managers on de Volksbank's successful inaugural issuance of EUR 500 million subordinated Tier 2 green bonds

Clifford Chance Amsterdam has advised the Joint Lead Managers on de Volksbank's successful issuance of EUR 500 million subordinated Tier 2 green bonds. This is the first issuance of green subordinated Tier 2 bonds by a European bank. De Volksbank mandated ABN AMRO Bank N.V., BofA Securities Europe SA, J.P. Morgan Securities plc, Nomura International plc and UBS AG London Branch as Joint Lead Managers on the transaction.

The EUR 500 million bond has a maturity of 10.25 years with a coupon of 1.75%. The majority of investors are ESG investors that favour sustainable investments.

The Clifford Chance team that advised the Joint Lead Managers was led by Jurgen van der Meer and furthermore consisted of Tineke Kothe, Hugo van der Molen, Nolan Groenland, Tom Smeele, Robin Houtveen and Lisa Ye.