Asr Nederland N.v. · EURONEXT:ASRNL
Asr Nederland — Debt Investor Presentation (September 2019)
10 slides from Asr Nederland's debt investor presentation, September 2019
Slide 1: Proposed €200 million Restricted Tier 1 issuance
Proposed € 200 million Restricted Tier 1 issuance Investor Presentation Chris Figee, CFO September 2019 RESTRICTED
Slide 2: Agenda
Agenda Recap H1 2019 results Proposed Transaction: Description & Rationale New-Issue: Summary Terms Consent Solicitation RESTRICTED 2
Slide 3: Key take-aways H1 2019 results
Key take-aways H1 2019 results Strong performance, record operating result in H1 2019 Solid progress in executing our strategy Strong balance sheet, robust high quality solvency with ample financial flexibility Well positioned to pursue profitable growth RESTRICTED 3
Slide 4: Solvency II: quality of balance sheet
Solvency II: quality of balance sheet SII Eligible Own Funds2 (in €m) 191% • Solvency II ratio 191% based on standard formula1 1,514 0 7,547 5283 • Unrestricted Tier 1 capital at € 5,505m: 73% 5,505 of total own funds and 139% of SCR Nominal value: €300m 4.625% Perp-NC2027 • Ample headroom available
Slide 5: Strong balance sheet with ample financial flexibility
Strong balance sheet with ample financial flexibility Pro-forma includes the € 200m RT1 tap and the call of the two Grandfathered Tier 1 instruments Financial flexibility (in €m) – pro-forma Solvency II composition (in % pts) Hybrids Unrestricted T1 191% 191% 852 462 7,543 38% 38% 27% of total EOF 1
Slide 6: Proposed Transaction: Description & Rationale
Proposed Transaction: Description & Rationale • New issue of €200m Restricted Tier 1 • terms to be the same as a.s.r’s €300m 4.625% Perpetual-NC-2027 issue (the “Existing RT1”) • intention is for new issue to become fungible with Existing RT1 • Concurrent consent solicitation seeking permission from
Slide 7: New-Issue: Summary Terms
New-Issue: Summary Terms Issuer ASR Nederland N.V. • New issue terms identical in all material Issue Date September 2019 aspects to Existing 4.625% RT1 notes Size EUR 200,000,000 (expected to be fungible with Existing RT1, subject to consent solicitation) ✓ Call Dates Issue Ratings (M/S/F) - / [BB+]
Slide 8: Consent Solicitation
Consent Solicitation1 Existing RT1 terms do not include a “Further Issues” provision; such a provision is commonly included in many debt issues; the provision may be included by amending the terms of the Existing RT1 via a Consent Solicitation Further issues: The Issuer may from time to time without
Slide 9: Disclaimer
Disclaimer • This presentation has been prepared and issued by ASR Nederland N.V. (“ASR • This Presentation does not constitute a prospectus or an offering circular. This Nederland” or the “Company”). For the purposes of this notice, the presentation Presentation does not constitute an offer to sell
Slide 10: Disclaimer (continued)
Disclaimer Continued from previous page of America absent registration or an applicable exemption from the registration requirements under the U.S. Securities Act. There will be no public offering of Notes • The information contained in the Presentation has not been independently verified. in the Un
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