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Dutch insurer SRLEV to buy back €400M of notes

Dutch insurer SRLEV NV invited holders of its €400 million subordinated notes due 2041 to tender the notes for purchase by the company for cash.

The tender offer is being carried out to optimize the capital structure of parent VIVAT NV and its subsidiaries, including SRLEV. Repurchased notes will be canceled and will not be reissued or resold.

Deutsche Bank AG London branch and NatWest Markets Plc are acting as dealer managers for the offer, while Lucid Issuer Services Ltd is acting as tender agent.

VIVAT's ultimate parent is China's Anbang Insurance Group Co. Ltd.