SNS REAAL Groep N.V.
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Publicatie datum
18 jul 2007 - 08:27
Statutaire naam
SNS REAAL Groep N.V.
Titel
SNS REAAL reports successful EUR 250M of Hybrid Capital Securities
Bericht
Utrecht 18 July 2007 - SNS REAAL N.V. ("SNS REAAL"), the Netherlands-based bank and insurance group, reports that following a successful launch and pricing on Monday July 9th, on July 17th it has issued Hybrid Capital Securities in the amount of EUR 350 million with an initial coupon of 6.258%, payable annually in arrears until the first call date in July 2017. The issue price is 100 per cent. The issue was priced, based on a spread of 129 basis points over the 10 year mid swap rate. If the issue is not called in 2017, the coupon will reset quarterly at a margin of 229 bps over the 3-month Euribor.
The transaction was launched after a 3-day investor roadshow across Europe.
Proceeds from the issue will be mainly used in relation to SNS REAAL's acquisition of AXA's Dutch insurance operations. The terms are designed to allow the issue to become part of SNS REAAL's regulatory capital.
The issue is expected to be rated 'Baa1/BBB' by Moody's and Standard & Poor's Rating Services and will be listed on Eurolist by Euronext Amsterdam N.V.
Datum laatste update: 22 februari 2026