NIBC Bank N.V. Statement re the sale of NIBC's CLO business (6152X)

TIDM49WP

RNS Number : 6152X

NIBC Bank N.V.

26 April 2023

The Hague, 26 April 2023

NIBC and Aegon Asset Management reach agreement on the sale of the NIBC's North Westerly CLO Platform

Today, NIBC announces that it has reached an agreement to sell its European Collateralised Loan Obligation (CLO) management activities to Aegon Asset Management. Through this transaction, NIBC further accelerates its strategy to streamline its business model and focus on asset-backed financing.

The sale comprises NIBC's North Westerly CLO platform in its entirety, including the NIBC CLO team, collateral management of three outstanding CLOs with assets under management of circa

EUR 1.2 billion and associated risk retention positions in the three CLOs for an undisclosed consideration. This transaction provides the North Westerly platform and its stakeholders with a strong basis for further growth under Aegon Asset Management ownership, who fully supports the North Westerly platform's strategy. Closing of the transaction is expected in June 2023.

Paulus de Wilt, Chief Executive Officer NIBC: " We are pleased to have found a strong partner in Aegon Asset Management, who will ensure seamless continuity of service for all North Westerly stakeholders and staff involved. On behalf of the Management Board, I would like to extend my gratitude to the CLO team for their dedication to the North Westerly platform. Their pioneering efforts in applying ESG principles to award-winning CLOs is commendable, and their almost 20-year track record is a testament to their expertise and commitment."

Press and debt investor contacts NIBC

 
   Eveline van Wesemael 
    Press Relations 
    T: +31 70 342 5412 
    E: eveline.van.wesemael@nibc.com 
   Toine Teulings 
    Debt Investor Relations 
    T: +31 70 342 9836 
    E: toine.teulings@nibc.com

About NIBC

NIBC is the entrepreneurial asset financier for companies and individuals. We finance assets from private housing to rental property, commercial real estate, vessels, infrastructure, cars and equipment. As a professional and reliable partner, we build long-term relationships based on knowledge and expertise.

Renowned for our entrepreneurial spirit, we are committed to always making a difference, for our clients and for society around us. Shaped by more than 75 years of experience, we support our clients in realising their ambitions and actively helping to build a sustainable, resilient and inclusive society for future generations.

NIBC employs around 700 people and is headquartered in The Hague, the Netherlands. We serve clients internationally with a focus on Europe.

You can read more about NIBC on www.nibc.com.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

STREAELKADDDEAA

(END) Dow Jones Newswires

April 27, 2023 02:00 ET (06:00 GMT)

Nibc7.625% (LSE:49WP)
Graphique Historique de l'Action
De Nov 2024 à Déc 2024