Aegon announces that it has successfully completed the sale of EUR 1,017,500,000 Class A residential mortgage-backed securities* (RMBS) in a private placement with institutional investors.
These securities are expected to have a weighted average life of 4.3 years and are priced at par with a coupon of three month Euribor plus 1.35%. The securities were issued under the Dutch SAECURE program**.
The net proceeds will be used to finance a part of the existing Dutch mortgage portfolio of Aegon.
Aegon is pleased it was able to successfully complete the sale despite challenging market conditions. SAECURE continues to be regarded as a top tier program in the Dutch RMBS market. Aegon’s proven underwriting criteria and servicing have led to high quality performance on the company’s outstanding SAECURE transactions.
J.P. Morgan acted as sole arranger and manager for this SAECURE 7 transaction.
* The securities are rated AAA by Standard & Poor’s, Aaa by Moody’s Investor Service and AAA by Fitch.
** The SAECURE program is managed by Aegon’s subsidiary Aegon Levensverzekering N.V.
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