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ASN Bank NV (fka De Volksbank NV)

by Anastasiia Shchehlova

Sep 15, 2026 7:14 AM ET

ALLOCATIONS OUT: ASN Bank N.V. €500m 4yr CB; MS+18bp

IGC European Market: Deal Flow - General

Issuer	Term	Maturity	Size	Ranking	Type	ISIN	Guidance	Spread Set
ASN Bank N.V.	4yr	23-Sep-30	€500m	CB	Fixed	XS3512738017	MS+23a	MS+18

Tranche 1 (4yr): Final Books above €1.25bn (incl. €80m JLMs)

Launched: 4yr: €500m @ MS+18bp - Books above €1.2bn (incl. €80m JLMs)
Spread set at: 4yr: MS+18bp - Books above €1.2bn (incl. €80m JLMs)
Book update: Books over €1bn (incl. €55m JLMs)
Guidance: 4yr: MS+23a

Issuer: ASN Bank N.V. (Ticker: ASNBNK)
Issuer Legal Entity Identifier (LEI): 724500A1FNICHSDF2I11
Expected Issue Ratings: Aaa/AAA (Moody's/Fitch)
Size: €500m
Books Subject: 12:00 CEST / 11:00 UKT
Settlement Date: 23-Sep-26 (T+6)
Maturity Date: 23-Sep-30 - 4yr soft bullet
Extended Maturity Date: 23-Sep-31
Coupon: Fixed, annual in arrear, first coupon commencing on 23-Sep-27
Coupon during Extended Maturity: Fixed, monthly in arrear, commencing on 23-Sep-30
Day Count Fraction until the Maturity Date: Actual/Actual (ICMA), unadjusted following
Day Count Fraction during Extended Maturity: Actual/Actual (ICMA), unadjusted following
Business Day Centre: T2
ISIN: XS3512738017
Denomination: €100k + €100k
Listing: Luxembourg Stock Exchange
Governing Law: Dutch Law
Joint Bookrunners: HSBC, ING (B&D), LBBW, Natixis, and SEB
Documentation: Issued under the ASN Bank N.V. EUR 15bn Covered Bond Programme dated 19-Dec-25, as supplemented
Security Format: New Global Note, Reg S bearer form
Target Market: Manufacturer target market (MiFID II/UK MiFIR product governance) is eligible counterparties and professional clients (all distribution channels). No PRIIPs key information document (KID) has been prepared. No sales to retail clients in the EEA, as defined under MiFID II
Fees: The Joint bookrunners will be paid a fee by the Issuer in connection to the transaction
Timing: Books open, Today's business
Advertisement: https://corporate.asnbank.nl/assets/files/jaarcijfers/ASN-Bank-1H26-Fixed-Income-Presentation.pdf?v=1786080387 / https://corporate.asnbank.nl/en/investor-relations/debt-information/programme-documentation/
Reference Benchmark: OBL 2.2 Oct-30
Hedge Ratio: 100%
Hedge Deadline: 13:30 CEST / 12:30 UKT