Aegon enters into EUR 2 billion syndicated credit facility

Aegon completed a EUR 2 billion syndicated credit facility agreement with a syndicate of international banks led by Bank of America Merrill Lynch and Citigroup Global Markets.

The revolving standby facility has a term of five years with two one-year extension options. Aegon maintains back-up credit facilities with international banks to support outstanding amounts under Aegon's commercial paper programs and to serve as additional liquidity sources. The facility also allows Aegon to issue letters of credit for an amount up to EUR 1 billion.

The new facility replaces Aegon's current USD 3 billion syndicated letter of credit and revolving credit facilities, which would have expired in September 2012.