Press release

CaixaBank successfully completes the placement of its first issuance in Swiss francs amounting to CHF 200 million

The bank diversifies its funding sources in the capital markets

CaixaBank’s corporate building in Madrid

• Represents CaixaBank's second public issuance in a non-euro market in senior non-preferred format, following last week's issuance in British pounds.

• CaixaBank takes advantage of the good market conditions and reaches a new milestone by placing its first issuance on the Swiss market at a lower cost than issuances in euros with the same maturity.

• The issuance of CHF 200 million has been welcomed by the market, rapidly reaching a demand of over CHF 250 million.

CaixaBank has carried out its second public issuance in a non-euro currency, placing 200 million Swiss francs maturing in 6 years with an early redemption period in the last year by the issuer. This is its fifth issuance in 2021 and its fourth in non-preferred senior format, following the social bond issuance in May and the green bond issuances in February and May, the latter in British pounds.

Through this new issuance, the bank seeks to diversify its funding sources in the capital markets, and to expand its investment base, as announced in its presentation of results in May, when it also announced plans for the issuance of around €2 billion in senior non-preferred debt for the remainder of the year. Since then, the amount issued has amounted to the equivalent of €1.76 billion in this debt format.

These deals represent a highly positive balance for the bank which, after the merger with Bankia, restates its excellent access to the institutional debt market. So far this year, the bank has secured funding totalling the equivalent to €3.76 billion.

The rapid development of the order book has improved the final conditions of the issuance, with CHF 200 million issued, up from the CHF 150 million reported in the announcement. The price has been set at 87 basis points on the reference swap rate in Swiss francs, 3 points below the 90 basis points at the outset, in line with the usual practice on the Swiss market. At this level, CaixaBank achieves funding in Swiss francs at a cost of 4 basis points below its equivalent level of issuance in euros. The coupon has been set at 0.477%.

The bank responsible for the placement was Credit Suisse.