Funding instruments
Rabobank has an ongoing focus on optimization and diversification of its long term funding, by tapping different markets, maturities, currencies and products. Rabobank issues bonds both in secured and unsecured format under several funding programs. A Sustainable Funding Framework is in place, under which green bonds are issued.
Long term funding instrument types
Covered bonds
Rabobank has a natural preference for issuance of covered bonds in euros, given its large Dutch residential mortgage portfolio. For more information on Rabobank covered bonds please click on the link below.
Senior preferred bonds
Senior preferred bonds are issued, inter alia, to (partly) meet local funding needs (e.g. in Europe, the US and in Australia / New Zealand). This is why these bonds are issued in multiple currencies. The Rabobank GMTN Program includes the possibility to issue article 72b CRR (MREL) compliant senior preferred bonds.
Non-preferred senior bonds
Non-preferred senior bonds are issued to comply with Rabobank’s Minimum Requirement for own funds and Eligible Liabilities (MREL). Rabobank issues non-preferred senior bonds in multiple currencies.
Sustainable funding instruments
To facilitate the issuance of ESG-labelled instruments, Rabobank has a Sustainable Funding Framework (SFF) in place, describing among others the use of proceeds, management of proceeds and reporting. So far, Rabobank has issued green bonds in senior preferred and non-preferred senior format. For more information on Rabobank sustainable funding instruments please click on the link below.
Issuance programs
Rabobank issues funding instruments under various short and long term funding programs. For an overview of all issuance programs please click on the link below.
Budget long term funding
2024
Rabobank Group's* 2024 target for its long term funding is ~EUR 15-18 billion (exclusive of any potential capital needs). Please note that this is subject to balance sheet developments (e.g. potential asset growth and deposit trends). Rabobank intends to issue (on average) between EUR 2 to 4 billion per annum in non-preferred senior bond format for the coming years. The remaining funding needs will be filled by a mix of covered bonds and senior preferred bonds.
* Including its subsidiaries DLL and Obvion
Search a specific instrument
Please click on the link below to access an overview of instruments issued by Rabobank (including relevant documentation)
Other funding and capital topics
Contact Investor Relations
IR@rabobank.com