Aegon Bank N.V.Debt programs

Aegon Bank N.V. issues debt through its Conditional Pass-Through Covered Bond Program, and by issuing senior non-preferred notes. In addition, Aegon Bank N.V. has setup and retained a SAECURE RMBS transaction. See more information on the transactions by Aegon Bank below.

As a result of Aegon's request to Fitch Ratings to simultaneously withdraw all its ratings on Aegon NV, on all affiliated entities and on debt instruments and debt programs of these entities with the exception of the Saecure securitizations, Aegon Bank has also asked Fitch Ratings to withdraw its ratings on all of its covered bond notes as well as on its senior non-preferred notes. The request is part of our drive to further reduce our expenses.

In October 2015, Aegon Bank established a EUR 5 billion Conditional Pass-Through Covered Bond Program, secured by prime Dutch residential mortgage loans.

This program is UCITS eligible and registered with the Dutch Central Bank. Issuances under this program are CRD compliant.

Key characteristics

Issuer Aegon Bank N.V.
Programme Limit EUR 5 billion
Collateral Prime Dutch residential mortgage loans
Minimum covenanted over-collateralization 10%

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View information about our Covered Bond program 

Aegon Bank senior non-preferred notes

The issuance of senior non-preferred notes supports the growth ambitions of Aegon Bank and results in a balanced mix of secured and unsecured funding instruments. The senior non-preferred notes will comply with the requirements of the National Resolution Authority (NRA) and will contribute in meeting the (as of yet non-binding) indicative MREL target.

Senior Non-Preferred notes
0.625%, due 06/2024
Amount EUR 500,000,000
Issue date June 21, 2019
Maturity date June 21, 2024
Coupon 0.625%, paid annually
ISIN XS2008921947

SAECURE 19

In May 2020, SAECURE 19 was issued (Also see the SAECURE program page). Aegon Bank acted as Seller in this transaction. At issuance, this transaction was fully retained by Aegon Bank.

Key characteristics

ISSUER SAECURE 19 B.V.
Amount EUR 1,621,100,000
Collateral Prime Dutch residential mortgage loans
Issue date May 28, 2020
FORD October 28, 2026
Coupon Class A: 0.5% per annum, paid quarterly, Class B: 0%
ISIN Class A: XS2180667474, Class B: XS2180667631