Loan & DebtMay 8, 2026, 07:51 AM
Aegon completes EUR 380M tender offers for subordinated notes
AI Summary
Aegon announced the final results of its tender offers for five series of subordinated notes, accepting all valid tenders without pro rata scaling. The company accepted a total notional amount of EUR 379.6 million (USD 447.0 million equivalent) for an aggregate cash amount of EUR 308.2 million (USD 363.0 million equivalent). This transaction is expected to generate an IFRS book gain of approximately EUR 0.1 billion in the first half of 2026, though it is anticipated to decrease the Group solvency ratio by 2 percentage points.
Key Highlights
- Aegon accepted EUR 379.6 million (USD 447.0 million equivalent) notional amount of subordinated notes.
- The aggregate cash amount paid for the tendered notes was EUR 308.2 million (USD 363.0 million equivalent).
- The transaction is expected to result in an IFRS book gain of approximately EUR 0.1 billion in H1 2026.
- Group solvency ratio is anticipated to decrease by 2 percentage points from an estimated 184% as of December 31, 2025.
- EUR 106.9 million of 2004 EUR Notes were accepted at 80.25% purchase price.
- USD 136.3 million of 2004 USD Notes were accepted at 78.75% purchase price.