Almere, Netherlands, 22 May 2014 – LeasePlan Corporation N.V., the world’s leading fleet management and driver mobility company, today announces that it has repaid the last, EUR 1 billion, tranche of its government guaranteed funding.

Says Guus Stoelinga CFO of LeasePlan Corporation: “We are grateful that we were able to participate in the Credit Guarantee Scheme of the Dutch State. This final repayment marks the end of a phase in which we successfully implemented our diversified funding strategy. We now have a strong and varied funding base in place to support our global activities. It consists of a broad range of secured and unsecured debt capital market instruments, bank credit facilities and LeasePlan Bank’s retail deposits. Our current strong capital and liquidity position provide a solid platform to further grow our business in the years to come.”

In 2008, when the financial crisis led to a credit crunch, the Dutch State established a EUR 200 billion credit guarantee scheme for financial institutions. Throughout 2008 and 2009 LeasePlan Corporation secured in total EUR 6.5 billion worth of guarantees under this scheme, in five different tranches.

The first repayment took place in December 2010. In 2012 and 2013, LeasePlan, benefitting from the strong momentum of its business and stable funding position, paid down two tranches ahead of their maturity date. The last, EUR 1 billion Bond with an interest rate of 3.250% matured today. Total fees paid by LeasePlan to the Dutch State throughout the duration of the guaranteed funding scheme amount to EUR 194.3 million.

At the end of 2013, as previously announced, LeasePlan’s liquidity buffer amounted to EUR 4.7 billion with the company maintaining a healthy Core Tier 1 ratio of 16.9%.