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SRLEV postpones coupon payment on EUR 400 million subordinated bonds due 2041 (ISIN CODE XS0616936372)

Thursday, March 19, 2015

In April 2011, SRLEV issued EUR 400 million subordinated bonds (ISIN code XS0616936372) due 2041 (the Bonds), the terms and conditions of which are set out in a prospectus dated 12 April 2011 (the Terms and Conditions).

On 16 February 2015, SNS REAAL announced it signed an agreement with Anbang Group Holdings Co. Ltd. for the sale of VIVAT Verzekeringen (REAAL NV). As a result of the transaction, the coupon ban imposed by the European Commission on externally placed outstanding subordinated bonds issued by SRLEV has been lifted. However, until the transaction is completed, SRLEV will make use of its optional interest payment deferral right not to pay the coupons on these subordinated bonds. Therefore, based on Condition 4(e) of the Terms and Conditions, SRLEV will not pay interest due on the Bonds on 15 April 2015.

Pursuant to Condition 7 of the Terms and Conditions, such non-payment of the coupon will not constitute an event of default. Unpaid interest shall, as long as its remains unpaid, constitute arrears of interest and shall bear the same rate of interest as is payable on the Bonds.

For more information please contact

Corporate Communications

Chantal van den Berg

Chantal van den Berg

+31 (0)6 - 51 41 49 69

corporatecommunicatie@snsreaal.nl

Elvira Bos

+31 (0)6 - 83 24 50 14

corporatecommunicatie@snsreaal.nl

 

Investor Relations

Jacob Bosscha

Jacob Bosscha

+31 (0)30 291 42 46

jacob.bosscha@snsreaal.nl

Kagan Köktas

Kagan Köktas

+31 (0)30 291 42 47

kagan.koktas@snsreaal.nl