F van Lanschot Bankiers is set to go on the road next week to market its second benchmark covered bond off its conditional pass-through (CPT) programme, the Dutch bank having announced a mandate yesterday (Wednesday) after the announcement of 2015 results.

Van Lanschot yesterday announced the mandate for a series of investor meetings to be held from next Wednesday (16 March) to Friday, ahead of a potential CPT euro benchmark issue. ING, JP Morgan, LBBW, Natixis and Rabobank have the mandate.

The Dutch issuer made its covered bond debut in April of last year, with a Eu500m seven year that attracted Eu1.4bn of orders and was priced at 1bp over mid-swaps.

A syndicate official at one of the leads today saw the Van Lanschot April 2022s at around 12bp, mid.

Van Lanschot established its Eu5bn programme in March 2015, following fellow Dutch issuer NIBC in opting for CPT issuance, while Aegon Bank also adopted the structure when making its debut with a Eu750m five year issue in November.

Van Lanschot announced the mandate after having published its 2015 results yesterday morning. It noted that the covered bond debut was its only capital market operation in 2015, while it redeemed RMBS Citadel 2010 I and Citadel 2010 II in the second half of the year.

The last benchmark covered bond from the Netherlands came on 7 January, when ABN Amro sold a Eu1.25bn 10 year issue.