Commentary & Deal Flow

5yr: Final Books above €1.15bn (Incl. €140m JLM). Peak book €1.6bn+ (incl. €140m)

Launched: 5yr: €750m @ MS+23bp - Books €1.6bn+ (incl. €140m)
Book Update: Books €1.25bn+ (incl. €115m JLM)
Guidance: 5yr: MS+28a

• Issuer: KBC Bank NV
• LEI issuer: 6B2PBRV1FCJDMR45RZ53
• Issuer ratings: A1/A+/A+ (Moody's/S&P/Fitch)
• Expected issue ratings: Aaa/AAA (Moody's/Fitch)
• Format: Belgian Covered Bonds (Belgische pandbrieven/lettres de gage belges) /European covered bonds (premium)
• Size: €750m
• Maturity: 10-Apr-31 (soft bullet)
• Extended maturity date: 10-Apr-32
• Settlement: 10-Apr-26 (T+6)
• Coupon: Fixed, annual, Act/Act (ICMA)
• First coupon date: 10-Apr-27
• Reference Gilt: DBR 0 15-Feb-31 (HR: 110%)
• Hedge Deadline: 13:00 UKT / 14:00 CET
• Form of Notes: Dematerialised Covered Bonds
• Target Market: Eligible counterparties and professional investors only (all distribution channels)
• Fees: The Banks will be paid a fee by the Issuer in respect of the placement of the securities
• Listing: Euronext Brussels
• Documentation: Issuer's Euro 17,500,000,000 Residential Mortgage Covered Bonds Programme
• Denomination: €100 + €100,000
• Governing Law: Belgian law
• Clearing: National Bank of Belgium / Securities Settlement System (X/N) offered by the Issuer may only be subscribed, purchased or held by investors in an exempt securities account (X-Account).
• Joint Bookrunners: BayernLB, ING, LBBW, Natixis (B&D), KBC Bank NV
• Timing: Books open, today’s business. Books to close 11:20 UKT / 12:20 CET.
• Advertisement: The Base Prospectus, any supplements thereto, and the Final Terms used herein have the meaning as given to them in the Terms and Conditions applicable to the Covered Bonds as included in the Base Prospectus dated 25-Jun-25 for the KBC Bank Residential Mortgage Covered Bonds Programme. Terms (when published) are available at https://www.kbc.com/nl/investor-relations/schulduitgiften/kbc-bank/kbc-bank-residential-mortgage-covered-bonds-programme.html