Today, ABN AMRO Bank successfully priced a new benchmark SGD 1 billion (*) subordinated Tier 2 transaction. Demand in the books was SGD 17 billion coming from 170 orders. The instrument has a maturity of 10 years, with a one-time call in year 5 and has an initial coupon of 4.70% which resets following the call date.
ABN AMRO has further strengthened its regulatory capital ahead of CRD IV implementation when part of the existing Tier 2 capital is expected to lose regulatory recognition. This transaction meets all known criteria proposed for Tier 2 capital under the latest draft CRD IV. Singaporean institutional and private banking clients were targeted to further diversify ABN AMRO's investor base. This transaction complements two Tier 2 transactions issued in July (EUR 1.0 billion) and September (USD 1.5 billion) this year, which were aimed at European institutional and Asian retail and private banking investors respectively.
For further information, please contact:
ABN AMRO Press Relations
+31 20 628 8900
ABN AMRO Investor Relations
+31 20 628 2282