BNG Bank issues second sustainability bond

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BNG Bank has issued its second Sustainability Bond. The size of the bond is EUR 650 million.

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The Sustainability Bond promotes BNG Bank's lending to best-in class sustainable municipalities in the Netherlands and enables investors to invest in sustainable Dutch municipalities via BNG Bank, with BNG Bank risk and liquidity profile. The BNG Bank Sustainability Bond is based on an innovative best-in-class use-of-proceeds approach and draws upon independent external expertise (Tilburg University), third party opinion (Sustainalytics) and financial assurance through reporting.

Due 3 November 2020, the bond has an annual coupon of 0.125% and the re-offer price is 99.861%. This represents a yield of 0,153%. Settlement date is 3 November 2015. The issue will be listed in Luxembourg. Lead managers are Credit Agricole, JP Morgan and HSBC. In October 2014 BNG Bank raised EUR 500 million with its inaugural sustainability bond.

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