to be granted a guarantee from the Dutch government under its new
bank rescue package.
The Almere-based lessor had applied for a guarantee for a debt
capital market issue of €1.5 billion only one week earlier.
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It was eligible because it has had a banking licence since 1993
and has been under the direct supervision of the Dutch Central
Bank.
The Dutch government has put in place a scheme offering
guarantees for up to €200 billion in interbank loans as part of its
rescue package to reduce the effects of the credit crunch within
the country’s financial system.
After the government’s announcement, LeasePlan chief financial
officer Guus Stoelinga said: “The Ministry [of Finance]’s approval
of our request confirms that LeasePlan meets the strict conditions
that the Dutch state is imposing on parties seeking to use the
scheme.”
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