Aegon today announces that it will call for the redemption of perpetual capital securities with a coupon of 7.25% issued in 2007 (ISIN code: NL0006056814, CUSIP code: N00927348).
The redemption will be effective June 15, 2014, when the principal amount of USD 1,050 million will be repaid with accrued interest.
Aegon's decision to call the perpetual capital securities supports the company's target to maintain a fixed charge cover within a range of 6 to 8 times. As a result of today's call and the recent issuance of EUR 700 million subordinated notes, Aegon's fixed charge cover is expected to increase approximately 0.7 times on an annualized basis.
The securities are currently listed on the New York Stock Exchange with symbol AEF. This listing will be terminated following the redemption of the securities.