NIBC announces second early buyback Government-guaranteed bonds

Press Release -

GGB buyback underlines NIBC's strong financial and liquidity position

Today, NIBC Bank announced a tender offer for the early buyback of Government-guaranteed bonds (GGBs) to a maximum of EUR 750 million equivalent. This tender offer comes after the tender offers earlier this year through which NIBC reduced its outstanding GGBs by the equivalent of EUR 1 billion.

Jeroen Drost, CEO of NIBC Bank:"We are pleased that our strong financial position and stable business activity allow for another early reduction of our outstanding debt securities guaranteed by the Dutch State. Our strategy of diversifying our funding and further strengthening our liquidity position continues to be successful."

The tender offer involves the EUR GGB due in April 2014 and the two USD GGBs due in December 2014. The repurchase of these three GGBs combined shall not exceed EUR 750 million equivalent. Tendered bonds will be accepted in the order of the priority acceptance levels, as set forth in the memorandum relating to this offer, dated 16 May 2013. First results will be announced on 28 May 2013 and final results will be known on 17 June 2013.

In accordance with the regulations regarding the buy back of GGBs by Dutch financial institutions, NIBC Bank received approval from the Dutch Ministry of Finance and the Dutch Central Bank (DNB) for this buyback. Dealer managers for the transaction are Citigroup and RBS.

Several legal restrictions apply to this offer. In particular, this document is not an offer of securities for sale, a solicitation of an offer to buy or a tender offer for securities in the United States or any other jurisdiction. All restrictions are set out in the tender offer memorandum relating to this offer, dated 16 May 2013.

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