NEW ISSUE: NRW.BANK € bmk 10yr Social Sr Unsec; MS+28a
IGC European Market: Deal Flow - SSA
Issuer
Term
Maturity
Size
Ranking
Type
Guidance
NRW.BANK
10yr
15-Jul-36
bmk
Sr Unsec
Fixed
MS+28a
Guidance: 10yr: MS+28a
Issuer: NRW.BANK
Ticker: NRWBK
LEI: 52990002O5KK6XOGJ020
Rating: Aa1/AA/AAA/AAA (Moody's/S&P/Fitch/Scope - all stable)
ESG Rating: Prime (C) by ISS ESG
Guarantor: Federal State of North Rhine-Westphalia (NRW)
Status: Senior Unsecured, Reg S Bearer, 0% RW, HQLA/Level 1
Size: € Benchmark
Coupon: Fixed, Act/Act (ICMA)
Settlement: 15-Jul-26 (T+5)
Maturity: 15-Jul-36
Guidance: MS +28bps area
Docs/List/Denoms: DIP/DUS+LUX/1k
ISIN/WKN: DE000NWB0B24/NWB0B2
Fees: The Joint Bookrunners will be paid a fee in connection with the transaction
UoP: An amount equivalent to the net proceeds raised from any NRW.BANK Social Bond issued under the NRW.BANK Social Bond Framework dated May 2025 (as amended or restated from time to time, the “NRW.BANK Social Bond Framework”)(including the Notes) will be exclusively applied to finance, in part or in full, new eligible social expenditures (Eligible Social Projects) and/or to refinance, in part or in full, existing Eligible Social Projects as listed in the NRW.BANK Social Bond Framework.
Target Market: Manufacturer target market (MIFID II/UK MiFIR product governance) is retail, eligible counterparties and professional clients (all distribution channels).