Chicago, Oct. 5 – Raiffeisen Bank SA priced €300 million of 7% four-year sustainable senior non-preferred notes (Baa2) at par, according to a market source about the Thursday-pricing deal.
The notes are optionally redeemable on Oct. 12, 2026.
If the notes are not redeemed, the coupon will reset to Euribor plus 344.1 basis points.
Pricing came at Bunds plus 410.7 bps. Initial price talk was in the mid-7% area.
Raiffeisen Bank International AG (billing and delivery), Raiffeisen Bank SA, BNP Paribas and JPMorgan are joint bookrunners for the Regulation S offering.
Subscriptions were more than 3x deal size, over €950 million.
The notes will be listed in Luxembourg.
Proceeds will be used to finance new or existing eligible loans providing distinct environmental and/or social benefits.
The prospective issuer is the third largest bank in Romania in terms of customer loans and the second largest network unit in the Raiffeisen Bank International Group by profit contribution.
| Issuer: | Raiffeisen Bank SA
|
| Amount: | €300 million
|
| Issue: | Sustainable senior non-preferred notes
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| Maturity: | Oct. 12, 2027
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| Bookrunners: | Raiffeisen Bank International AG (billing and delivery), Raiffeisen Bank SA, BNP Paribas and JPMorgan
|
| Coupon: | 7% initial rate, resets to Euribor plus 344.1 bps
|
| Price: | Par
|
| Yield: | 7%
|
| Spread: | Bunds plus 410.7 bps
|
| Call features: | Oct. 12, 2026
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| Trade date: | Oct. 5
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| Settlement date: | Oct. 12
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| Rating: | Moody’s: Baa2
|
| Distribution: | Regulation S
|
| Price talk: | Mid-7% area
|
| Marketing: | Investor calls
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| ISIN: | XS2700245561
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