NN Group announces maximum acceptance amount for tender offer for subordinated notes
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NN Group today announces, with reference to the tender offers (as described in the tender offer memorandum dated 25 April 2023 (the “Tender Offer Memorandum”)) in respect of: (i) the EUR 1 billion Fixed to Floating Rate Subordinated Notes due 2044 (ISIN: XS1054522922) issued by NN Group N.V. (the “NC24 T2 Notes”) and (ii) the EUR 750 million Fixed to Floating Rate Undated Subordinated Notes (ISIN: XS1076781589) issued by NN Group N.V. (the “NC24 T1 Notes” and, together with the NC24 T2 Notes, the “Notes”) (each such invitation an “Offer”, and together the “Offers”) that, following the pricing of the New Notes to be issued by NN Group, the Maximum Acceptance Amount in respect of the Offers is EUR 1 billion in aggregate nominal amount of Notes.
NN Group reserves the right, in its sole and absolute discretion and for any reason, to increase or decrease the Maximum Acceptance Amount. NN Group will announce the final Series Acceptance Amounts as soon as reasonably practicable on 4 May 2023.
The Offers commenced on 25 April 2023 and will expire at 5 p.m. (CEST) on 3 May 2023. Subject to the satisfaction or waiver of the Transaction Condition on or prior to such date, settlement is expected to take place on 9 May 2023.
The Offers are being made on the terms and subject to the conditions contained in the Tender Offer Memorandum and this announcement should be read in conjunction with the Tender Offer Memorandum. Capitalised terms used but not otherwise defined in this announcement shall have the meaning given to them in the Tender Offer Memorandum.
Copies of the Tender Offer Memorandum are (subject to distribution restrictions) available from Kroll Issuer Services Limited acting as Tender Agent (Telephone: +44 (0)20 7704 0880, Attention: Owen Morris, Email: firstname.lastname@example.org, Website: https://deals.is.kroll.com/nngroup).