BNG has more than a century of experience as a public sector bank. BNG is a well-known name in the money and capital markets thanks to its long-standing presence in both markets and its global investor relations.
Thanks to our long-term nature and excellent AAA credit ratings, we offer investors the opportunity to invest in a stable and secure institution. BNG bonds in various currencies and formats offer the opportunity to invest with us in the Dutch local public sector. Through the stable and frequent issuance of BNG bonds, we reduce the cost of social services, enabling local authorities and other public organisations to make optimal use of their budgets. Together, we tackle the biggest social challenges, such as building affordable housing and constructing sustainable infrastructure.
Annual long-term funding requirement
Strategic funding
ESG bonds through our Sustainable Finance Framework
Public issues
Private placements
The Netherlands is known for its excellent credit rating.
BNG is wholly owned by the (local) government and, in the event of financial stress, the likelihood of support from the Dutch government is very high.
More than 90% of our long-term loan portfolio is fully guaranteed. This is one of the reasons why our creditworthiness is equal to that of the Dutch State.
All three major global credit rating agencies (Moody's, Fitch, S&P) have awarded BNG their highest credit ratings for both the long and short term.
| Moody's | S&P | Fitch | |
|---|---|---|---|
| Long-term credit ratings | Aaa | AAA | AAA |
| Outlook | stable | stable | stable |
| Short-term credit ratings | P-1 | A-1+ | F1+ |
Since BNG was founded in 1914, our focus has been on providing financing to the Dutch public sector. We do so on competitive terms and for all maturities. By doing so, we enable social impact, regardless of the situation on the financial markets. With more than a century of experience, we are a reliable player on the (inter)national capital markets. Our long-term funding policy is aimed at maintaining a strong competitive position in the market. By periodically issuing bonds in various sizes, currencies and maturities, we continue to respond proactively to market needs and anticipate the wishes of investors.
We are the largest Dutch public bond issuer after the Dutch government and therefore the leading issuer of bonds in the SSA sector (sub-sovereign, supranational, agency) in the Netherlands.
BNG is known worldwide as a reliable and stable issuer with a very high credit rating and a long history. This gives BNG broad and deep access to the international money and capital markets in both good and bad market conditions.
We focus on providing loans to local authorities and public sector institutions in the Netherlands. We are restricted in our lending activities by our articles of association.
We offer customised financial services. These range from loans and advances to payment services and electronic banking. We also participate in public-private partnerships.
BNG is a promotional bank, which means that at least 90% of the loans we provide are directly or indirectly guaranteed by the government. We promote public sector policy objectives by providing promotional loans on a not-for-profit basis.
BNG maintains an additional buffer because the Dutch central bank has designated BNG as a bank of national systemic importance.
The Dutch government holds half of BNG's share capital. The other half is owned by municipalities, provinces and a water authority. Our clients are local authorities, public companies, healthcare institutions, educational institutions and housing associations. As a financier and knowledge partner, we help them tackle social challenges in areas such as the energy transition, sustainable and affordable housing, and social real estate. This way, we help create a more social and greener Netherlands.
In the Netherlands, the credit quality of local governments is very high. This is in line with the credit quality of the central government. There are guarantee funds for loans to housing associations and healthcare institutions. These are supported by the Dutch government. As a promotional lender, more than 90% of our loans and advances have a risk weighting of 0%.
| Size | EUR 15-20 bn |
| Term | 1 to 30 years |
| Strategic funding | Benchmark yield curves in EUR and USD (transaction size 1 bn+) |
| Public deals | Regular presence in public markets (AUD, GBP, CHF, CAD, CNY, HKD, NOK, SEK, JPY, among others) |
| Private placements | MTN-format and loan format |
| ESG issuance | Sustainability bonds and social bonds |
| Issuance programmes | Read more about our issuance programmes |
| Documentation | Debt Issuance Programme EUR 110 bn. (with a passport to 15 European countries) Kangaroo/Kauri Programme AUD 15 bn. Namensschuldverschreibung |
| Repo eligible | ECB, FED NY, SNB, RBA, RBNZ |
| LCR HQLA | EU level 1, Switzerland level 2a |
| PSPP ECB | Eligible |
BNG is also active on the international money markets. The money markets are the part of the financial markets where financial instruments with a maturity of less than one year are traded. This type of financing is essential for ensuring liquidity and meeting daily operational needs. By using the money markets, BNG can manage its liquid assets quickly and efficiently, which contributes to financial stability and flexibility.
BNG uses two commercial paper programmes for short-term financing on the money markets.
| Euro-Commercial Paper (ECP Programme | US Commercial Paper (USCP) Programme | |
|---|---|---|
| Size | EUR 20 bn | USD 20 bn |
| Currency | Multiple currencies, including EUR, USD, GBP, CHF, AUD, HKD | USD |
| Term | Up to 1 year | Up to 1 year |
| Dealers | Barclays, BoA ML, Citigroup, ING, NatWest, Rabobank, UBS | Barclays, Goldman Sachs, JP Morgan |
| Rating | A-1+/P-1/F1+ | A-1+/P-1 |
In addition, we offer professional counterparties the option of placing direct deposits in various currencies with a maximum term of one year. This is subject to completion of the full CDD and onboarding process. Please contact the money market department directly for more information.