Aegon has successfully priced USD 760 million of senior unsecured notes with a fixed coupon of 5.5% and a tenor of three years. Net proceeds from this issuance will be used for general corporate purposes, including the previously announced redemption of the EUR 700 million of fixed-to-floating subordinated notes, effective as of April 25, 2024.
The notes are being issued by Aegon Funding Company LLC (AFC) and will be guaranteed on a senior unsecured basis by Aegon Ltd. The maturity date is on April 16, 2027. The notes are expected to be rated BBB+ and Baa1 by S&P Global and Moody's, respectively.
An application has been made to list the notes on the Official List of Euronext Dublin and admit them to trading on the Global Exchange Market of Euronext Dublin. The issuance is expected to settle on April 16, 2024, with the notes being admitted to trading on the Global Exchange Market of Euronext Dublin following settlement.