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NN Group today announces that it is has priced EUR 850 million of subordinated notes and EUR 500 million of senior unsecured notes.
The EUR 850 million subordinated notes have a maturity of 31 years and are first callable after 11 years and every quarter thereafter, subject to conditions to redemption. The coupon is fixed at 4.625% per annum until the first call date and will be floating thereafter. These notes are expected to qualify as Tier 2 regulatory capital. The subordinated notes are expected to be rated by Standard & Poor's (BBB) and Fitch (BBB) and will be listed on Euronext Amsterdam (ISIN: XS1550988643).
The EUR 500 million senior notes have a fixed coupon at 0.875% per annum and a maturity of 6 years. The senior notes are expected to be rated by Standard & Poor's (A-) and Fitch (A-) and will be listed on Euronext Amsterdam (ISIN: XS1550988569).
The net proceeds of the subordinated and senior notes will be applied by NN Group for general corporate purposes including repayment of existing debt.
The subordinated and the senior notes are issued under the Debt Issuance Programme of NN Group N.V., for which the Base Prospectus dated 24 March 2016 and Supplements to it, dated 22 June 2016, 7 October 2016 and 5 January 2017 are available on www.nn-group.com . The Base Prospectus and the Supplements thereto have been approved by the Netherlands Authority for the Financial Markets (AFM).
| Press enquiries NN Group Leon Willems +31 (0) 6 27 329 839 Leon.Willems@nn-group.com | Investor enquiries NN Group Investor Relations +31 (0)20 541 5464 investor.relations@nn-group.com |
NN Group profile NN 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).
Important legal information
All figures in this document are unaudited. Small differences are possible in the tables due to rounding. 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 detailed in the Risk Factors section contained in recent public disclosures made by NN Group.
Any forward-looking statements made by or on behalf of NN Group speak only as of the date they are made, and, NN Group assumes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or for any other reason.
This document does not constitute an offer to sell, or a solicitation of an offer to buy, any securities.
