Last week, SNS REAAL successfully placed securitisations with a volume of € 883.2 million as part of its Hermes XVIII securitisation programme.

One (class A3) tranche, valued at € 211.2 million and having an expected life of approximately five years, had already been placed with several institutional investors. Two other tranches of € 192 million (Class A1; life approximately 2 years) and € 480 million (Class A2; life approximately five years) were oversubscribed 2.3 and 1.5 times respectively.

Proceeds from the transactions will be used to fund SNS Retail Bank activities. This is SNS REAAL's second successful placement of bonds shortly after the 1 billion euro Covered Bond transaction a few weeks ago.

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