ABN Amro $1.5 billion 4.4% Tier 2 notes issue

Overview:

• ABN Amro has issued $1.5 billion 4.4% Reg S Tier 2 subordinated bonds, due in 2028, with a one-time call and reset date after six years.
• The bank mandated its own investment bank as a joint bookrunner, alongside Citigroup, Goldman Sachs, HSBC and Standard Chartered.
• The deal is the first Reg S-only bank Tier 2 transaction since 2014.
• The issue was also CRD IV-compliant and serves to ensure the bank is able to pre-position itself for minimum requirement for own funds and eligible liabilities regulations.

Jon Moore - Journalist