The Dutch State to Continue Sale of ING IABF Assets
THE HAGUE, Netherlands -- January 6, 2014
Today, the Dutch State announces its intention to continue a competitive
auction process to sell the non-agency residential mortgage backed securities
(RMBS) underlying the ING Illiquid Assets Back-up Facility (IABF). The Dutch
State Treasury Agency (DSTA) will be responsible for the sale on behalf of the
The decision of the Dutch State to continue with the sale of the portfolio is
based on the continued improvement in the US housing market and a high level
of interest by investors for non-agency RMBS securities. While the DSTA
expects, as indicated earlier, that it will be able to divest the assets
within a period of 12 months, there will be no fixed deadline for completion
of the sale of the portfolio. The DSTA reserves the right to postpone any
sale, should market circumstances change.
BlackRock Solutions will be responsible for the execution of the sale of the
securities on behalf of the DSTA. The sale will take place via a competitive
auction process through a number of selected broker-dealers. Reverse inquiries
of at least US$ 2.5 billion notional are accepted. A short-list of
broker-dealers will be selected for an auction based on the competitiveness of
their respective reverse inquiry bids.
All reverse inquiries should be sent to: IABFinquiries@blackrock.com. Please
visit the DSTAwebsite foradditional information:
In the interest of supporting a transparent and competitive auction process,
the DSTA will periodically release public announcements pertaining to
developments regarding the wind down of the IABF on its website.
Dutch State Treasury Agency
+31 70 342 4099
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