NIBC buy back portion of USD Government-guaranteed bonds

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NIBC to accelerate buyback due to strong financial and business position

Today, NIBC Bank announced two tender offers for the buy back of Government-guaranteed bonds (GGBs) to a maximum of the equivalent of EUR 1 billion. These tender offers, one in the US and one in Europe, substantially accelerate the buyback of the outstanding Government-guaranteed bonds. In 2012, NIBC Bank already bought back EUR 500 million of GGBs expiring in April 2014.

Jeroen Drost, CEO of NIBC Bank: "We are pleased that our strong financial position and stable business activity allow for another early buyback of a substantial part of the 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 US tender offer involves the USD GGB bonds expiring in December 2014. The buyback of these USD GGB bonds shall not exceed a EUR 500 million equivalent, unless the amount accepted under the European tender offer also launched today is lower than that tender offer's' EUR 500 million maximum. In that case, NIBC has the option to increase the cap amount for the USD GGB. The US tender offer expires on Tuesday 5 March with an early tender time falling on Tuesday 19 February.

In accordance with the regulations regarding the buyback of Government-guaranteed bonds 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 transactions are NIBC, Citigroup and RBS.

Several legal restrictions apply to these offers. 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 respective tender-offer memoranda relating to these offers, dated 5 February 2013.