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NOT FOR DISTRIBUTION IN THE USA, CANADA AND JAPAN
Aegon N.V. announced today it will issue euro and US dollar denominated Perpetual Capital Securities, targeted at private investors in Europe and Asia.
The EUR tranche of the Aegon Perpetual Capital Securities will pay investors a variable coupon based on the yield of 10-year Dutch government bonds plus an additional spread. The spread will be determined after closing of the subscription period. The coupon will be reset each quarter based on the then prevailing 10-year Dutch government bond yield, with a maximum of 8.0%.
The USD tranche of the Aegon Perpetual Capital Securities will pay investors a variable coupon based on the yield of 10-year USD interest rate swaps plus an additional spread. The spread will be determined after closing of the subscription period. The coupon will be reset each quarter based on the then prevailing 10-year USD interest rate swap yield, with a maximum of 8.5%.
The Aegon Perpetual Capital Securities are expected to be traded on Euronext Amsterdam. The Aegon Perpetual Capital Securities rank junior to Aegon’s existing subordinated debt and contain provisions for interest deferral and early redemption. The detailed terms and conditions are described in the preliminary offering circular. The proceeds from the issue will be used to refinance senior debt.
The subscription period for the issue starts today and will be open until July 9, 15.00 (MET DST). The Aegon Perpetual Capital Securities EUR tranche will be distributed through ABN AMRO and Rabobank. The USD tranche will be distributed through ABN AMRO, BNP Paribas and Citigroup.
The preliminary offering circular will be available on this site or may be obtained from one of the banks listed above.
The Securities have not been and will not be registered under the United States Securities Act of 1933 as amended (the 'Securities Act') and are Securities in bearer form that are subject to certain United States tax law requirements. Subject to certain exceptions, the Securities may not be offered, sold or delivered, directly or indirectly, in the United States, or to or for the account or benefit of U.S. persons (as such terms are defined in Regulation S under the Securities Act). For a further description of registrations on offers, sales, resales and deliveries of Securities, see 'Subscription and Sale' in the Offering Circular.