BNG prints A$60 million increase to March 2034 Kangaroo social bond

Wednesday, 04 October 2023

Issuer name: BNG Bank
Issuer rating: AAA/Aaa/AAA
Issue rating: as issuer
Pricing date: 4 October 2023
Settlement date: 11 October 2023
Maturity date: 13 March 2034
Lead managers: Nomura, RBC Capital Markets

Transaction type: senior-unsecured Kangaroo social bond
Volume: A$60 million (US$38.4 million)
Total outstanding in the line: A$310 million
Coupon type: fixed
Coupon rate: 5%
Issue/re-offer price: 96.445% (plus 0.385% accrued)
Issue yield: 5.451%
Margin to swap: 57bp/s-q
Margin to ACGB: 79.1bp/November 2033

Framework: BNG Bank N.V. Sustainable Finance Framework October 2021
Second-party opinion: ISS ESG 3 November 2021
ICMA aligned: yes