NN Group announced today that it will redeem the outstanding aggregate principal amount of EUR 476,290,000 of the 6.375% Fixed to Floating Rate Subordinated Notes due 2027 (ISIN: XS0147306301) pursuant to the terms of the Subordinated Notes set forth in the prospectus dated 2 May 2002.
The Subordinated Notes will be redeemed in full in accordance with the terms on the first call date which is 7 May 2017. The redemption price payable for the Subordinated Notes on the redemption date is 100% of the outstanding aggregate principal amount of the Subordinated Notes, plus accrued and unpaid interest as at the redemption date. The paying agent for these Subordinated Notes is The Bank of New York Mellon, London Branch One Canada Square London E14 5AL United Kingdom.
On 13 January 2017, NN Group issued EUR 500 million senior notes, the net proceeds of which are planned to be used to redeem the Subordinated Notes. The Subordinated Notes and the senior notes do not qualify as regulatory capital.
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NN Group profile NN Group is an international insurance and asset management company, active in 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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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.
