NatWest taps Swiss market for CHF 210M bond at 1.135% coupon
What's the deal? NatWestDealroom has a profile for this one. Try Dealroom → has issued a CHF 210 million bond, a senior, unsubordinated, unsecured note due August 26, 2031. The British financial group placed the debt under the lead management of CommerzbankDealroom has a profile for this one. Try Dealroom →, NatWestDealroom has a profile for this one. Try Dealroom →, and UBSDealroom has a profile for this one. Try Dealroom →.
The terms: The five-year bond carries a coupon of 1.135% and was priced at 100.00% of face value. It comes with an option to increase the amount and prices at a spread of 75 basis points over mid-swaps.
Why now? The payment date is set for August 26, 2026, with listing on Switzerland's SIXDealroom has a profile for this one. Try Dealroom → exchange from August 24, 2026. The bond carries ratings of A1/A/AA from S&P, MoodyDealroom has a profile for this one. Try Dealroom →'s, and FitchDealroom has a profile for this one. Try Dealroom →.
The signal: At roughly $258 million, the raise sits toward the smaller end of debt deals — around the 23rd percentile by size. For NatWest, tapping the Swiss franc market diversifies its funding base beyond sterling and euro sources.
Read more: cash.ch
Image credit: ell brown
