Practice Areas - Debt Capital Markets Law Firms and Lawyers
| Deal Date: | 09-11-2015 | Practice Area: | Debt Capital Markets |
| Deal Title: | SNS Bank Tier 2 Subordinated Notes Issuance | Industry: | Banks |
| Description: |
Clifford Chance advised on SNS Bank's first Tier 2 debt issue since its nationalisation in February 2013. On 29 October 2015, SNS Bank successfully placed EUR 500 million subordinated (Tier 2) notes with a wide range of institutional investors.
The Tier 2 notes, having a maturity of 10 years, carried a fixed interest coupon of 3.75%, with a one-time call and reset date after five years. SNS Bank mandated Deutsche Bank AG (London Branch), Goldman Sachs International, ING Bank N.V., J.P. Morgan Securities plc and UBS Limited as Joint Lead Managers on the transaction. The notes were listed on the Luxembourg Stock Exchange.
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| Financial Center: | Amsterdam | Value: | 500.01-1000.00 |
| Advised Party: | Managers:: | Law Firm | Clifford Chance |
| Issuer Jurisdiction | Netherlands | Listing Jurisdiction | Netherlands |
| Classification: |
Capital Securities Tier 2 |
Lawyer | Jurgen van der Meer |
