Van Lanschot Kempen announces a consent solicitation for its outstanding covered bonds under its €5 billion Conditional Pass-Through Covered Bond programme

Amsterdam/’s-Hertogenbosch, the Netherlands, 11 September2023

Van Lanschot Kempen has given a notice of meeting for the purpose of soliciting a consent for the transfer of the outstanding covered bonds under its €5 billion Conditional Pass-Through Covered Bond programme to its €5 billion Soft Bullet Covered Bond programme.

Proposed amendments
The purpose of the consent solicitation is that all the outstanding series under the Conditional Pass-Through Covered Bond programme will be consolidated into the Soft Bullet Covered Bond programme.

After implementation, the proposed amendments will result in replacing the guarantor of the Conditional Pass-Through Covered Bond programme with the guarantor of the Soft Bullet Covered Bond programme and to modify and/or replace the final terms and the conditions of the Conditional Pass-Through Covered Bonds with those of the Soft Bullet Covered Bond programme. Furthermore, the Conditional Pass-Through Covered Bonds will become Soft Bullet Covered Bonds.

Van Lanschot Kempen has prepared a consent solicitation memorandum which contains the full terms and conditions of this consent solicitation which is available to covered bond holders on the website of Kroll: https://deals.is.kroll.com/vanlanschotkempen.

Rationale
Van Lanschot Kempen has set up its €5 billion Soft Bullet Covered Bond programme in March 2022 in addition to its existing €5 billion Conditional Pass-Through Covered Bond programme, which was established in 2015. Van Lanschot Kempen wishes to reduce its operational burden and the operating costs of simultaneously maintaining two separate covered bond programmes, whilst only the Soft Bullet Covered Bond programme will be used for future issuances. If the consent solicitation is successful, there will no longer be any covered bonds outstanding under the Conditional-Pass Through programme and subsequently this programme can be terminated.

Media Relations        T +31 20 354 45 85        mediarelations@vanlanschotkempen.com
Investor Relations    T +31 20 354 45 90        investorrelations@vanlanschotkempen.com

About Van Lanschot Kempen NV
Van Lanschot Kempen is an independent, specialist wealth manager active in private banking, investment management and investment banking, with the aim of preserving and creating wealth, in a sustainable way, for both its clients and the society of which it is part. Through our long-term focus, we create positive financial and nonfinancial value. Listed at Euronext Amsterdam, Van Lanschot Kempen is the Netherlands’ oldest independent financial services company, with a history dating back to 1737.

For more information, please visit vanlanschotkempen.com

Important legal information and cautionary note on forward-looking statements
This press release does not constitute an offer or solicitation for the sale, purchase or acquisition in any other way or subscription to any financial instrument and is not a recommendation to perform or refrain from performing any action.

Elements of this press release contain information about Van Lanschot Kempen NV within the meaning of Article 7(1) to (4) of EU Regulation No. 596/2014. 

This press release is a translation of the Dutch language original and is provided as a courtesy only. In the event of any disparities, the Dutch language version will prevail. No rights can be derived from any translation thereof.

Attachment

• Van Lanschot Kempen press release_debt

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