SNS Reaal Junior Bonds at Record Low After Dutch Nationalization
This article is for subscribers only.
SNS Reaal NV’s junior bonds were quoted at record lows after the Dutch government seized the securities as part of the lender’s nationalization.
SNS’s 250 million euros ($341 million) of 6.258 percent Tier 1 perpetual notes were 25 euro cents, or 61 percent, lower at 15.5 cents as of 11:10 a.m. in London, according to Bloomberg prices. Its senior bonds were quoted higher after the government said investors in these notes won’t face losses.