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by Oleksandr Vynychuk

Aug 17, 2026 8:40 AM ET

PRICED: Nederlandse Waterschapsbank NV £250m 5yr Sr Unsec; SONIA MS+39bp

IGC European Market: Deal Flow - SSA

Issuer	Term	Coupon	Maturity	Size	Ranking	Type	Price	Yield	Guidance	Spread	GDNC-PXD
Nederlandse Waterschapsbank NV	5yr	4.625%	31-Jul-31	£250m	Sr Unsec	Fixed	99.511	4.740%	SONIA MS+39a	SONIA MS+39	0

Reoffer: 5yr: SONIA MS+39bp / 99.511 / 4.740%
Benchmark: 5yr: UKT 0.25% 31-Jul-31 @ 81.385 / B+20.1 / HR 113%

Launched: 5yr: £250m @ SONIA MS+39bp
Guidance: 5yr: SONIA MS+39a

Issuer: Nederlandse Waterschapsbank NV
Ticker: NEDWBK
LEI: JLP5FSPH9WPSHY3NIM24
Ratings: Aaa/AAA (Moody's/S&P)
Format: Reg S, Bearer
Size: £250m
Maturity: 31-Jul-31
Settlement: 24-Aug-26 (T+5)
Coupon: 4.625%, Fixed, annual, act/act, short first
Reoffer: 99.511 / 4.740% (Ann.) / 4.685% (S/A) / SONIA MS (A,A/365) +39bps
Reference Gilt: UKT 0.25% 31-Jul-31 (@81.385 MID / 81.373 BID) +20.1bps / HR 113%
Denomination: £100k+£1k
Listing: Luxembourg Stock Exchange’s Regulated Market
Governing Law: Dutch Law
Docs: Issuer’s Debt Issuance Programme
Use of Proceeds: The proceeds of the Notes will be utilized for lending to Social Housing Organizations in the Netherlands according to the Issuer’s Social Bond Framework
Bookrunners: Citi, HSBC, RBC CM (B&D/DM)
Target Market: Professional & Eligible Counterparties (EU MIFID II/UK MIFIR)
Timing: Priced. TOE 13:24 LDN. FTT Immediately
ISIN: XS3479661855
Funding programmes: https://nwbbank.com/en/investor-relations/funding-programmes
Social Bond Framework: https://nwbbank.com/application/files/9517/5328/1899/NWB_Bank_Social_Bond_Framework_2025.pdf