KBC repays 1 billion euros of 4.375% bonds early in November
The Belgian banking group has set November 23, 2026 as the repayment date for the entire tranche of bonds bearing a 4.375% coupon, for a total amount of 1,043,750,000 euros.
Bonds issued in 2022 repaid at the optional date
KBC Group NV sent a redemption notice on October 9, 2026 to the holders of its senior fixed-rate and then variable-rate bonds (series G0032), identified under the ISIN code BE0002900810. The nominal amount of the tranche is 1 billion euros. These securities were issued under a base prospectus approved by the Belgian Financial Services and Markets Authority (FSMA) on May 24, 2022, and definitive terms signed by the issuer on November 21, 2022. The redemption takes place in application of condition 4, paragraph (d), of the prospectus, which provides for redemption at the option of the issuer. All bonds will be repaid on November 23, 2026, designated as the optional redemption date.
1 billion euros of principal and 43.75 million euros of interest paid to holders
The total amount paid amounts to 1,043,750,000 euros, broken down into 1,000,000,000 euros of principal and 43,750,000 euros of interest. The notice is qualified as irrevocable by the issuer. KBC Group confirmed that all conditions provided by the regulations relating to loss absorption are met, as well as any additional condition required by the competent regulator. The notice was delivered to the National Bank of Belgium, in its capacity as operator of the securities settlement system, within a period between 15 and 45 days before the redemption date, with a copy to Euroclear, Clearstream Luxembourg and Euronext Brussels. KBC Bank NV, paying agent, listing agent and calculation agent for the operation, was notified in accordance with the agency agreement concluded on May 24, 2022. The documents are signed by Bartel Puelinckx and Johan Thijs, both executive directors.
