Clifford Chance Amsterdam has advised the Joint Lead Managers on NIBC’s successful issuance of € 300 million debut senior non-preferred notes.
NIBC mandated Morgan Stanley & Co. International plc, Credit Suisse Securities (Europe) Limited, ING Bank N.V., J.P. Morgan Securities plc and NIBC Bank N.V. as Joint Lead Managers on the transaction.
The additional layer of “senior non-preferred” debt gives banks a statutory option to comply with the subordination requirement under incoming FSB Total Loss-Absorbing Capacity (TLAC) standards and the EU minimum requirement for own funds and eligible liabilities (MREL).
The Clifford Chance team that advised the Joint Lead Managers consisted of Jurgen van der Meer (Picture), Tineke Kothe and Hugo van der Molen.
Law Firms: Clifford Chance;