NIBC starts tender offer for senior non-preferred notes due April 2024

Chicago, Nov. 9 – NIBC Bank NV started an any-and-all tender offer for the €500 million outstanding 2% senior non-preferred notes due April 9, 2024 (ISIN: XS1978668298) on Thursday, according to an announcement.

The notes were originally issued in two parts, an original €300 million on April 9, 2019 and then a consolidated single-series tap issue of €200 million on June 10, 2020.

The bank is offering a purchase price of 99, plus accrued interest up to, but excluding, the Nov. 20 settlement date.

The offer expires at 11 a.m. ET on Nov. 16.

Results will be announced on Nov. 17.

Tenders will not be prorated.

The offer is subject to the satisfaction of a new financing condition. Tendering noteholders may be given priority allocation in a new offering of euro-denominated fixed-rate senior non-preferred notes.

The structuring adviser and dealer manager is BNP Paribas (+33 1 55 77 78 94, liability.management@bnpparibas.com).

Deutsche Bank AG (+44 20 7545 8011) and UBS Europe SE (+44 20 7568 1121, ol-liabilitymanagement-eu@ubs.com) are also dealer managers.

Kroll Issuer Services Ltd. is the tender agent (+44 20 7704 0880, nibc@is.kroll.com, https://deals.is.kroll.com/nibc).

The bank is based in the Hague, the Netherlands.

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