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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
FNCL
PRCD
RABOBK
Cooperatieve Rabobank UA (aka Rabo Bank)€1,000
1EMEA
Oct 16, 2026
currency
EUR
size (m)
1,000.000
maturity
Oct 23, 2031
type
Fixed
tenor
5.000
call
-
registration
Reg S Only
benchmark
Swaps
ranking
Senior Non-Preferred
moody's
A3
s&p
A-
fitch
A+
size description
-
re-open/tap
No
ipt
MS+90-95 area
ipt-pxd
-27.5
guidance
STL
spread
65
coupon
4.091%
spread set
-
price
100.00000
yield
4.091%
book size (m)
2,100
peak book (m)
2,700
x-covered
2.1
book attrition
-22.22%
nic
5
billing & delivering
active leads
-
joint leads
BNP, CAG, DEU, GSC, ...
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
2,100
peak book (m)
2,700
x-covered
2.1
book attrition
-22.22%
nic
5
billing & delivering
active leads
-
joint leads
BNP, CAG, DEU, GSC, ...
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Book size: 2100; First Pay: 2027-10-23; Registration: Reg S Only; Comments: OBL 2.9% 10/08/31 / 98.513 / B+86.7. Tax Call: Yes. Regulatory Call: Yes. LEI: DG3RU1DBUFHT4ZF9WN62;
Use of Proceeds
An amount equal to the proceeds of the European Green Bond will be used to finance and/or refinance, in part or in whole, a portfolio of eligible green assets in accordance with the Issuer’s European Green Bond Factsheet prepared by the Issuer in accordance with Annex 1 of Regulation (EU) 2023/2631 of the European Parliament and of the Council of 22 November 2023 (the "European Green Bond Regulation")
Relative Value

EuGB Senior Non-Preferred
5yr (Oct 2031) @ MS+90/95
Implied Spread for fresh 5yr @ MS+60
Priced at MS+65
NIC of +5


COMPS

Ticker

Ratings (M/S/F)

ESG

Amount

Coupon

Maturity

Years

I+ Bid

RABOBK

A3/A-/A+

-

1000

1.125

May-31

4.6

58

RABOBK

A3/A-/A+

-

850

0.625

Feb-33

6.4

56

NDAFH

A2/A/AA

G

750

3

Oct-31

5

56

SEB

A3/A/AA-

G

750

3.125

Nov-31

5.1

58

SHBASS

A1/A/AA

G

750

3.25

Aug-31

4.9

54