29 Aug 2016 - 07:00 CET
NN Bank establishes Debt Issuance Programme
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NN Bank today announced that it has established a Wholesale Debt Issuance Programme (DIP), allowing for the issuance of senior unsecured debt instruments. The prospectus for the DIP dated 26 August 2016 has been approved by the Netherlands Authority for the Financial Markets (AFM) and is available online: NN Bank funding programme.
The NN Bank DIP increases the bank’s flexibility to address its ongoing funding needs by further diversifying its sources of funding, which currently include RMBS secured wholesale funding and retail deposits. NN Bank is a wholly-owned subsidiary of NN Group. For its own funding activities, NN Group has a separate Debt Issuance Programme to facilitate the issuance of senior and subordinated debt.
NN Group profileNN Group is an international insurance and asset management company, active in more than 18 countries, with a strong presence in a number of European countries and Japan. With around 11,500 employees the group offers retirement services, insurance, investments and banking to more than 15 million customers. NN Group includes Nationale-Nederlanden, NN and NN Investment Partners. NN Group is listed on Euronext Amsterdam (NN).
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Certain of the statements contained herein are not historical facts, including, without limitation, certain statements made of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those in such statements due to, without limitation: (1) changes in general economic conditions, in particular economic conditions in NN Group’s core markets, (2) changes in performance of financial markets, including developing markets, (3) consequences of a potential (partial) break-up of the euro, (4) changes in the availability of, and costs associated with, sources of liquidity as well as conditions in the credit markets generally, (5) the frequency and severity of insured loss events, (6) changes affecting mortality and morbidity levels and trends, (7) changes affecting persistency levels, (8) changes affecting interest rate levels, (9) changes affecting currency exchange rates, (10) changes in investor, customer and policyholder behaviour, (11) changes in general competitive factors, (12) changes in laws and regulations, (13) changes in the policies of governments and/or regulatory authorities, (14) conclusions with regard to accounting assumptions and methodologies, (15) changes in ownership that could affect the future availability to us of net operating loss, net capital and built-in loss carry forwards, (16) changes in credit and financial strength ratings, (17) NN Group’s ability to achieve projected operational synergies and (18) the other risks and uncertainties contained in recent public disclosures made by NN Group.
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