SNS Reaal NV, a Dutch financial services company, said Thursday it will receive a 750 million euro ($934 million) lifeline from the government to shore up its capital position amid the financial crisis, reported CNN.
SNS will be the third Dutch company to be bailed out, following the larger ING Groep NV and Aegon NV.
SNS said terms are similar to the previous deals: it will issue new shares to the state paying 8.5 percent interest and has an option to repurchase them at 150 percent of the issue price.
Separately, the bank said Thursday it has posted a third quarter loss of 88 million euros ($110 million), down from a profit of 138 million euros a year ago. The company has canceled dividends and executive bonuses for the rest of the year.