Commentary & Deal Flow

Reoffer: 3yr: MS+34bp / 99.679 / 3.74%
Benchmark: 3yr: OBL 2 ½ 10-Nov-29 @ 98.33 / B+64.0bp / HR 101%

Tranche 1 (3yr): Final Books at reoffer > €3bn (incl. €110m JLM).

Launched: 3yr: €750m @ MS+34bp - Books > €2.55bn (incl. €110m JLM)
Book Update: Books > €1.5bn (excl. JLM)
Guidance: 3yr: MS+40a

• Issuer: Argenta Spaarbank SA/NV
• Ticker: ARGSPA
• LEI: A6NZLYKYN1UV7VVGFX65
• Issue Type: Belgian Mortgage Pandbrieven
• Status: European Covered Bond (Premium)
• Format: EuGB, Reg S, Dematerialized
• Issue Rating: AAA (S&P)
• Volume: €750m
• Reoffer: MS+34bps / Price: 99.679 / Yield: 3.740%
• Benchmark: OBL 2 ½ 10-Nov-29 + 64.0bps (px 98.33) / HR 101%
• Coupon: 3.625% Fixed, annual, act/act ICMA, Following Business Day Convention
• Settlement Date: 04-Nov-26 (T+6)
• Maturity Type: 3-year (soft bullet)
• Maturity Date: 04-Nov-29
• Leads: ABN AMRO, Commerzbank, Natixis (B&D) and UBS
• Listing: Luxembourg Stock Exchange (Professional segment)
• Use of Proceeds: The Mortgage Pandbrieven use the designation European Green Bond or EuGB in accordance with Regulation (EU) 2023/2631 (the EU Green Bond Regulation). An amount equivalent to the proceeds of the Notes will be used to finance and/or refinance the Economic Activities specified in the applicable Final Terms in accordance with the European green bond factsheet dated 23-Oct-26 (the Factsheet), prepared by the Issuer in accordance with the EU Green Bond Regulation. The Factsheet is publicly available on the Issuers Website at https://www.argenta.eu/investor-relations/debt-issuance/green-bonds.html
• Target market: MIFID II and UK MiFIR professionals/ECPs-Only/No PRIIPs KID – Manufacturer target market (MiFID II and UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs key information document (KID) has been prepared as not available to retail in EEA or in the UK.
• Selling Restrictions: As set out in the Base Prospectus
• Fees: The Banks will be paid a fee by the Issuer in respect of this transaction
• Denoms/Law: €100k/100k / Belgian Law
• ISIN: BE6377241730
• Timing: Priced – TOE 16:06 CET, FTT 16:30 CET