November 19, 2012 / 9:41 AM / in 5 years

KBC to issue 10 bln euros of mortgage-backed bonds

BRUSSELS, Nov 19 (Reuters) - Belgian financial group KBC will issue 10 billion euros ($12.7 billion) worth of bonds backed by Belgian residential mortgages over the coming years, the group said on Monday.

KBC said it aimed to issue between 2 and 3 billion euros of bonds every year and that the first issue should follow shortly.

“We welcome this opportunity to further diversify our investor base and long-term funding mix,” the group’s chief financial officer said in a written statement.

The group has appointed Deutsche Bank, DZ Bank, Goldman Sachs, KBC and Natixis as joint lead managers of the bonds. ($1 = 0.7871 euros) (Reporting By Robert-Jan Bartunek)

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