NIBC aims to reduce GG bond burden to €2.3bn with €1bn repurchase offer

NIBC Bank stepped up its government guaranteed (GG) buyback programme this week with a capped €1bn tender offer for three senior unsecured bonds denominated in euros and dollars. Repurchasing the full amount would leave the bank with €2.3bn of the €6.7bn of GG bonds it issued at the height of the financial crisis in 2009.