illimity aims to secure a solid and well-diversified funding base to support the growth of its business over the next few years, which expects to reach total assets of around 10 billion euro in 2025.
On January 16,2024, the rating agency Moody’s Investors Service has assigned first-time ratings to the Bank. In particular, the long-term and short-term bank deposit ratings are equal to respectively “Baa3” and “Prime-3”, in the investment grade area. The long-term issuer and senior unsecured debt ratings both stand at “Ba1” with stable outlook.
The list of the main ratings assigned by Moody’s is reported below:
On May 14, 2024, the international Agency Fitch Ratings confirmed the Bank's Long-Term Issuer Default Rating (IDR) to “BB-", the Long-Term deposits Rating to “BB” and the Viability Rating (VR) to “bb-” with Outlook Stabile.
In December 2020, illimity completed its first bond issue: placed a senior preferred bond with a 3-year maturity for a total amount of 300 million euro.
In July 2021, the Bank placed its first subordinated class 2 (Tier 2) bond with a 10-year maturity, and a 5-year call option, for a total amount of 200 million euro.
In December 2022, illimity completed its second bond issuance: placed a senior preferred bond with a 3-year maturity for a total amount of 300 million euro.
In June 2023, the Bank completed its first retail bond issuance: placed a senior preferred bond with a 3-year maturity for a total amount of 61 million euro.
In May 2024, the Bank completed its third bond issuance: placed a senior preferred bond with a 3-year maturity for a total amount of 300 million euro.
In September 2019, illimity entered the institutional bond market through the EMTN - Euro Medium Term Notes Programme on the Irish Stock Exchange (ISE). Currently, the Stock Exchange of the Programme is the Luxembourg Stock Exchange (LuxSE).
The documents relating to the Programme are available in the sections below.
