04
March
2025
|
16:55
Europe/Amsterdam

NN Group prices debt offering of EUR 1 billion of perpetual subordinated restricted Tier 1 securities

NN Group today announces that it has priced EUR 1 billion of perpetual subordinated restricted Tier 1 securities (the “Securities”).

The Securities are first callable after 10 years and each interest payment thereafter (the coupon is payable semi-annually), subject to redemption conditions. The coupon is fixed at 5.75% per annum until the first reset date on 11 March 2035 and will be reset every fifth year thereafter. The Securities allow for a temporary write-down subject to conditions as reflected in the offering memorandum prepared in connection with the Securities. The Securities are expected to qualify as restricted Tier 1 Own Funds. The Securities are expected to be rated by S&P (BBB-) and Fitch (BBB+) and will be listed on Euronext Dublin (ISIN: XS2965647378).

The net proceeds from the issue of the Securities will be applied for general corporate purposes (which may include, without limitation, the refinancing of existing debt including callable capital securities).

The offering memorandum with details of the Securities will be published around 7 March 2025 on www.nn-group.com.

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