De Brauw advises Rabobank on EUR 1 billion tender offer for Rabobank Certificates

De Brauw has acted as lead counsel to Rabobank on its EUR 1 billion tender offer for Rabobank Certificates.

To help eligible holders of Rabobank Certificates assess the relative value of the offer price, this was determined in accordance with the "clean" trading mode of the Rabobank Certificates on Euronext Amsterdam. That is, the sum of a "clean" purchase price, expressed as a percentage of each certificate's nominal amount, and an amount attributable to potential future distributions, in line with customary Euronext Amsterdam practice. Eligible holders are offered a "clean"' offer price of 113%, compared to the last reported trading price on Euronext Amsterdam of 108.38%.

As Rabobank's trusted lead legal adviser, De Brauw was involved in all strategic and legal aspects of the tender offer. The transaction was complex due to the hybrid nature of the instruments and the larger dispersed retail owner base