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In 2004 and 2005, Van Lanschot issued Perpetual Capital Securities for an amount of € 165 million and € 150 million, respectively.


Van Lanschot announces exchange and tender offer for perpetual capital securities

Investors in the Van Lanschot Perpetual Capital Securities 04-14/49 (ISINcode NL0000116374) can opt for a cash offer of 75% or for an exchange to a new loan.

Holders of the Van Lanschot Perpetual Capital Securities 05-15/49 (ISINcode NL0000117745) for institutional investors can only opt for a cash offer of 82.5%.

The securities do not have a maturity date, but Van Lanschot reserves the right to repay the entire loan at face value on each coupon date after ten years. The dividend policy differs per security. Both securities carry the option to postpone payments of dividends, provided that no payments are made on ordinary shares and no share buybacks take place. Deferred payments will receive the same dividend percentage as applicable to the principal.

Issue 2004 2005
ISIN NL0000116374 NL0000117745
Coupon rate 2.642% 4.855%
Coupon € 13.21
(per € 1,000 nominal)		 € 2,427.50
(per € 50,000 nominal)
Coupon date 30 April 2012 14 December (annual)
Prospectus 26-10-2004 09-12-2005

Dividend policy 2004 issue

Perpetual Capital Securities issued in 2004 carry a variable dividend that is linked to the effective interest rate on Dutch 10-year government bonds plus a mark-up. The maximum total dividend percentage is 8%. Dividend is revised every six months.

Dividend policy 2005 issue

Perpetual Capital Securities issued in 2005 carry a fixed dividend of 4.855% in the first ten years. If the securities are not repaid after ten years, the dividend is linked to the 3-month Euribor with a 2.32% mark-up.
 

Geraldine Bakker-Grier

Manager Investor Relations
 T +31 (0)73 548 33 50
 M +31 (0)6 13 976 401
 investorrelations@vanlanschot.com

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This website and its contents are informative in nature and do not constitute an offer of securities to the public, nor do they constitute a solicitation to make such an offer.

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