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Aegon successfully places inaugural EUR 750 million Conditional Pass-Through Covered Bond

Press Release, November 24, 2015

Today, Aegon Bank N.V. priced its inaugural 5-year, EUR 750 million Conditional Pass Through Covered Bonds at 8 basis points over mid swaps resulting in an effective yield of 0.267%.

The deal was oversubscribed and successfully placed with a broad range of institutional investors.

The bonds are expected to be rated AAA by rating agencies Standard & Poor's and Fitch. Aegon Bank N.V.'s Conditional Pass-Through Covered Bond Program is Dutch law-based and backed by a pool of prime Dutch residential mortgage loans. It is registered with the Dutch Central Bank (DNB) and is both UCITS and CRD IV compliant.

This transaction enables Aegon to further diversify its funding sources and to attract new external long-term funding. The net proceeds will be used to refinance part of the existing Dutch mortgage portfolio of Aegon.

Aegon Bank N.V. assigned ABN AMRO, Rabobank, Royal Bank of Scotland (RBS), Société Générale and UniCredit as joint bookrunners and NIBC Bank as co-lead manager for the transaction. RBS has been designated as the sole arranger.


 

About Aegon Bank N.V.

Aegon Bank N.V. is part of Aegon the Netherlands and operates under two brands: Aegon Bank, an online retail savings bank, and KNAB, a new online banking initiative for retail and self-employed clients. Aegon Bank N.V. develops savings and investment products, and supports Aegon's purpose to help people take responsibility for their financial future. Aegon Bank N.V. offers a platform for funding mortgages for Aegon the Netherlands. Aegon is a top 5 lender in the Dutch residential mortgage market. Aegon Bank N.V. has a credit rating of A+ by Standard & Poor's and A- by Fitch.