11 Mar 2015 - 17:25 CET
NN Group prices senior debt offering of EUR 600 million
NOT FOR PUBLICATION OR DISTRIBUTION IN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR ANY OTHER JURISDICTION IN VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
NN Group today announces that it has priced EUR 600 million senior unsecured notes with a fixed rate coupon of 1% per annum and a maturity of 7 years. The notes are expected to be rated by Standard & Poor's (A-) and Moody's (Baa2) and will be listed on Euronext Amsterdam (ISIN: XS1204254715).
NN Group intends to use the proceeds of the notes for general corporate purposes including the repayment of existing indebtedness.
The notes are issued under the Debt Issuance Programme, for which the base prospectus is available on www.nn-group.com. This programme has been approved on 2 March 2015 by the Netherlands Authority for the Financial Markets (AFM).
NN Group profileNN Group is an insurance and investment management company with a strong, predominantly European presence in more than 18 countries. With around 12,000 employees the group offers retirement services, insurance, investments and banking to more than 15 million customers. NN Group includes Nationale-Nederlanden, ING Insurance Europe, ING Investment Management and ING Life Japan and is listed on Euronext Amsterdam (NN).
Important legal information
Certain of the statements contained in the prospectus for the DIP dated 2 March 2015 (the "Prospectus") 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 (a) changes in general economic conditions, in particular economic conditions in NN's core markets, (b) changes in performance of financial markets, including developing markets, (c) consequences of a potential (partial) break-up of the euro, (d) the implementation of the EC Restructuring Plan, (e) changes in the availability of, and costs associated with, sources of liquidity, as well as conditions in the credit markets generally, (f) the frequency and severity of insured loss events, (g) changes affecting mortality and morbidity levels and trends, (h) changes affecting persistency levels, (i) changes affecting interest rate levels, (j) changes affecting currency exchange rates, (k) changes in investor, customer and policyholder behaviour, (l) changes in general competitive factors, (m) changes in laws and regulations, (n) changes in the policies of governments and regulatory authorities, (o) conclusions with regard to accounting assumptions and methodologies, (p) adverse developments in legal and other proceedings, including proceedings related to Dutch unit-linked policies, (q) changes in ownership that could affect the future availability to NN of net operating loss, net capital and built-in loss carry forwards, (r) changes in credit and financial strength-ratings, (s) NN's ability to achieve projected operational synergies and (t) the other risks and uncertainties detailed in the section headed "Risk Factors" in the Prospectus. Any forward-looking statements made by or on behalf of NN speak only as of the date they are made, and NN assumes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or for any other reason.
Neither this Press Release nor the Prospectus constitute an offer to sell, or a solicitation of an offer to buy, any securities. The distribution of the Prospectus and the offering or sale of the Notes in certain jurisdictions may be restricted by law. Persons into whose possession the Prospectus comes are required to inform themselves about and to observe any such restriction. The Notes have not been and will not be registered under the United States Securities Act of 1933 and include Notes in bearer form that are subject to U.S. tax law requirements. Subject to certain exceptions, Notes may not be offered, sold or delivered within the United States or to U.S. persons. For a description of certain restrictions on offers and sales of Notes and on distribution of the Prospectus, see section headed "Subscription and Sale" in the Prospectus. The Prospectus does not constitute an offer of, or an invitation to subscribe for, or purchase, any Notes.