The Covered Bonds have a 3 year maturity with a fixed coupon of 3.625%. Settlement will take place on 19 November 2026. The Covered Bonds will be listed on Euronext Amsterdam and are expected to be rated AAA by Fitch. The transaction attracted strong interest from nearly 60 national and international institutional investors, with a final order book of EUR 1.9 billion, nearly four times oversubscribed.
Covered Bonds
This is the inaugural issuance under Triodos Bank’s Soft Bullet Covered Bond Programme, established in June 2026. The Covered Bonds are backed by high-quality prime Dutch residential mortgage loans, all originated by Triodos Bank. They provide investors with dual recourse, to both Triodos Bank and the cover pool held by Triodos SB Covered Bond Company B.V. as guarantor. The programme is registered with De Nederlandsche Bank (DNB), is compliant with Article 129 CRR and carries the European Covered Bond (Premium) Label.
An amount equal to the net proceeds will be allocated to eligible green residential mortgage loans under the Triodos Bank Green Bond Framework, which is aligned with the ICMA Green Bond Principles. All properties securing the mortgage loans in the cover pool have an energy label of A or better.
The base prospectus for the programme is available on Triodos Bank’s website:https://www.triodos.com/en/investor-relations/debt-investors/covered-bond-programme. The base prospectus has been approved by the Autoriteit Financiële Markten (AFM, the Dutch Authority for the Financial Markets).
Rabobank acted as arranger of the programme. ABN AMRO, Deutsche Bank, DZ Bank, and Natixis acted as joint bookrunners of the transaction.
Regulated Information
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The information in this document has been obtained or derived from sources believed by Triodos Bank N.V. to be reliable at the date of publication of this document. However, no representations are made as to its accuracy or completeness. The information may be subject to change, and Triodos Bank N.V. assumes no undertaking to revise or amend the information provided, or to provide any update in respect of any change related thereto. Triodos Bank N.V. accepts no liability for loss arising from the use of the information. The information is: (i) for discussion purposes only; (ii) not to be regarded as (investment) advice; and (iii) not to be relied upon in substitution for the exercise of independent and sound judgement.
This document does not constitute any commitment or any offer to commit to any transaction or financing by Triodos Bank N.V.
This document may include forward-looking statements. All statements other than statements of historical facts may be forward-looking statements. Some of these forward-looking statements are characterised by the use of words such as (but not limited to): 'expect', 'anticipate', 'estimate', 'may', 'should', 'would', 'believe', 'intend', 'plan', 'contemplate', 'aim', 'could', 'will', 'potential', 'think', 'seek', as well as similar expressions, the future tense and the conditional. The forward-looking statements included in this document with respect to the business, results of operation and financial condition of Triodos Bank N.V. are subject to a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements, including but not limited to the following: changes in economic and political conditions, actions taken and policies applied by governments and their agencies, changes in credit spreads or interest rates, the results of our strategy and investment policies and objectives. Triodos Bank N.V. undertakes no obligation to update or revise any forward-looking statement to reflect events or circumstances that may arise after the date of this document.
The information in this document has been obtained or derived from sources believed by Triodos Bank N.V. to be reliable at the date of publication of this document. However, no representations are made as to its accuracy or completeness. The information may be subject to change, and Triodos Bank N.V. assumes no undertaking to revise or amend the information provided, or to provide any update in respect of any change related thereto. Triodos Bank N.V. accepts no liability for loss arising from the use of the information. The information is: (i) for discussion purposes only; (ii) not to be regarded as (investment) advice; and (iii) not to be relied upon in substitution for the exercise of independent and sound judgement.
This document does not constitute any commitment or any offer to commit to any transaction or financing by Triodos Bank N.V.
This document may include forward-looking statements. All statements other than statements of historical facts may be forward-looking statements. Some of these forward-looking statements are characterised by the use of words such as (but not limited to): 'expect', 'anticipate', 'estimate', 'may', 'should', 'would', 'believe', 'intend', 'plan', 'contemplate', 'aim', 'could', 'will', 'potential', 'think', 'seek', as well as similar expressions, the future tense and the conditional. The forward-looking statements included in this document with respect to the business, results of operation and financial condition of Triodos Bank N.V. are subject to a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements, including but not limited to the following: changes in economic and political conditions, actions taken and policies applied by governments and their agencies, changes in credit spreads or interest rates, the results of our strategy and investment policies and objectives. Triodos Bank N.V. undertakes no obligation to update or revise any forward-looking statement to reflect events or circumstances that may arise after the date of this document.