The Dutch State Announces a Third Sale of ING IABF Assets
THE HAGUE, Netherlands -- January 28, 2014
Today, the Dutch State announces its intention to conduct 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 third 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. 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. The remaining
size of the portfolio has a face value of $2.1 billion. Reverse inquiries must
be for the entire portfolio.
Broker-dealers will be selected for the auction, that will take place
depending on the competitiveness of the 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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