News archive 2015

Below you can read the news items and press releases published in 2015:

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EUR 1 billion 10-year benchmark Green Bond issue

Nederlandse Waterschapsbank N.V. (“NWB Bank”) has launched a very successful 10-year EUR 1,000,000,000 benchmark Green Bond issue. This second green bond issue of NWB Bank follows the successful inaugural 5-year EUR 500 million green bond benchmark transaction launched in June 2014 and again underpins its role as robust and sustainable finance partner to the Dutch public sector. The Bank is an Aaa/AA+ rated public sector bank with its lending inherently beneficial to society and sustainable given its customer base and field of operations.

Redemption of NWB Bank Callable CMS Spread Coupon Notes due 15 August 2035

The NWB Bank Callable CMS Spread Coupon Notes (ISIN XS0225342970) (the “Notes”) will be redeemed on 15 August 2015, in accordance with the Terms and Conditions of the Notes as set out in the Final Terms dated 9 August 2005 and the base prospectus dated 7 July 2005. Payment of principal and interest will be made on 17 August 2015.

Reappointment Frenk van der Vliet as a member of the Managing Board

On the Supervisory Board's nomination, Frenk J. van der Vliet (47) was reappointed as a member of NWB Bank's Managing Board for a term of four years effective 1 January 2016. He has been a member of the Managing Board since 2012.

Moody’s upgrades BCA to a1 and affirms Aaa rating

Moody’s Investors Service (“Moody’s”) has upgraded the baseline credit assessment (“BCA”) of Nederlandse Waterschapsbank N.V. (“NWB Bank”) to a1 from a2 and affirmed the Bank’s Aaa rating with a stable outlook. The upgrade of the BCA primarily reflects Moody’s revised view of the Bank’s liquidity profile in the context of the new bank rating methodology.

S&P revises outlook to positive and affirms AA+/A-1+ ratings

On 27 May 2015 Standard & Poor’s (“S&P”) revised its outlook on Nederlandse Waterschapsbank N.V. (“NWB Bank”) to positive from stable and affirmed its AA+ long-term and A-1+ short-term issuer credit ratings. The outlook revision mirrors a similar action on the State of the Netherlands on 22 May 2015.

General Meeting of Shareholders

During the annual General Meeting of Shareholders of Nederlandse Waterschapsbank N.V. ("NWB Bank") held in The Hague on 23 April 2015, the shareholders adopted the 2014 financial statements. In the light of the Basel III capital requirements, the net profit for 2014 of €49 million will be added to the Bank's general reserves in full.

NWB Bank on buy list European Central Bank

The European Central Bank (“ECB”) has added NWB Bank to the list of institutions whose securities are eligible for the Public Sector Purchase Programme (“PSPP”). This was announced by the ECB after their meeting on 15 April 2015.

USD 1,250,000,000 benchmark bond issue

Nederlandse Waterschapsbank N.V. (“NWB Bank”) has completed a 7-yr USD 1,250,000,000 benchmark with 144A/Reg S format. The joint lead managers were BNP Paribas, Merrill Lynch, Pierce, Fenner & Smith, Nomura International and The Toronto-Dominion Bank. NWB Bank is a AA+ (stable outlook)/Aaa (stable outlook) rated public sector bank.

Annual results 2014

  • Net profit up 44% to €49 million (2013: €34 million), principally thanks to higher interest margins
  • Increase in lending volume to over €6 billion
  • Very strong Tier 1 capital ratio of 73%; ECB Comprehensive Assessment affirms robust financial position
  • "Promotional Lender" and "High Quality Liquid Assets Level 1" qualifications
  • €200 million in additional Tier 1 capital raised from four Dutch provinces
  • Moody's reassigns stable outlook on Aaa rating

USD 1,000,000,000 benchmark bond issue

Nederlandse Waterschapsbank N.V. (“NWB Bank”) has completed a 5-yr USD 1,000,000,000 benchmark with 144A/Reg S format. The joint lead managers were Barclays Bank plc, HSBC Bank plc and The Royal Bank of Scotland plc. NWB Bank is a AA+ (stable outlook)/Aaa (negative outlook) rated public sector bank.

USD 1,500,000,000 benchmark bond issue

Nederlandse Waterschapsbank N.V. (“NWB Bank”) has completed a 3-yr USD 1,500,000,000 benchmark with 144A/Reg S format. The joint lead managers were Daiwa Capital Markets Europe Limited, J.P. Morgan Securities plc and RBC Capital Markets. NWB Bank is a AA+ (stable outlook)/Aaa (negative outlook) rated public sector bank.

Half-year figures 2015

• Strong increase in net profit to €63 million (first half of 2014: €28 million), in part owing to non-recurring income
• Increase in lending volume to €5 billion
• Strong Tier 1 capital ratio of 75%

EUR 2,000,000,000 benchmark bond issue

Nederlandse Waterschapsbank N.V. (“NWB Bank”) has launched a 7-yr EUR 2,000,000,000 benchmark with Reg S format. The joint lead managers are BNP Paribas, Credit Suisse Securities (Europe) Limited, Deutsche Bank and Natixis. NWB Bank is a AA+ (positive outlook)/Aaa (stable outlook) rated public sector bank.

S&P raises rating to AAA following similar action on the Netherlands

On 24 November 2015 Standard & Poor’s (“S&P”) raised the long-term counterparty credit rating on Nederlandse Waterschapsbank N.V. (“NWB Bank”) from AA+ to AAA with a stable outlook and affirmed its A-1+ short-term counterparty credit rating. The upgrade of the Bank mirrors a similar action on the State of the Netherlands on 20 November 2015.

EIB and NWB Bank sign deal for public sector investments

Today in The Hague, the European Investment Bank (EIB) and the Dutch promotional bank Nederlandse Waterschapsbank N.V. (NWB Bank) have signed a loan agreement worth EUR 400 million.

Financing of PPP project National Military Museum

NWB Bank has successfully reached financial close on the refinancing of the PPP Project National Military Museum. This refinancing has been executed in cooperation with BNG Bank, the Sponsors Heijmans and 3i, the Dutch State represented by the Government Building Agency (Rijksvastgoedbedrijf) and the Ministry of Defence, and NIBC Bank as swap provider.