Debt programs
Aegon has access to international capital markets under a USD 6 billion debt issuance program. Access to the capital market in the United States is made possible by a separate shelf registration. Most of Aegon's financial leverage is issued by Aegon Ltd. Any issuance by Aegon Funding Company (AFC) is guaranteed by Aegon Ltd.
Aegon also has access to domestic and international money markets through its EUR 2.5 billion commercial paper programs. (See the capital & liquidity section of Aegon's Integrated Annual Report for more details.)
To support its commercial paper programs and need for Letters of Credit (LOCs), and to enhance its liquidity position, Aegon maintains backup credit and LOC facilities with international lenders. The Company's principal arrangement is a USD 1.375 billion syndicated revolving credit facility maturing in 2029, and an additional LOC facility of USD 750 million, which matures in 2026.
In addition, Aegon also maintains various shorter-dated bilateral backup liquidity and committed and uncommitted LOC facilities.
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