Aegon announces that it has successfully completed the sale of EUR 1.5 billion Class A residential mortgage-backed securities* (RMBS) to a broad group of institutional investors**.
These securities were issued under the Dutch SAECURE program*** and consisted of two tranches:
The net proceeds will be used to finance part of Aegon’s existing Dutch mortgage portfolio.
The successful completion of the sale underlines the strength of Aegon’s SAECURE program. SAECURE is regarded as a top tier program in the Dutch RMBS market. Aegon’s proven underwriting criteria and servicing have led to high quality performance of the company’s outstanding SAECURE transactions.
The securities were placed by a syndicate of banks comprising BNP Paribas, J.P. Morgan Securities Ltd. and Rabobank International.
* The securities are rated AAA by Standard & Poor’s and Aaa by Moody’s Investor Service** An affiliate of J.P. Morgan Securities Ltd. purchased EUR 250 million of the Senior Class A1 notes and EUR 750 million of the Senior Class A2 notes based upon the prevailing market on March 1, 2011. *** The SAECURE program is managed by Aegon’s subsidiary Aegon Levensverzekering N.V.
© Aegon 2020