Ageas starts tender offer for floating-rate subordinated notes

Chicago, Nov. 28 – Ageas SA/NV commenced a tender offer on Thursday for any and all of the €1.25 billion issue of undated floating-rate equity-linked subordinated hybrid capital securities issued by Ageasfinlux SA (ISIN: XS0147484074), according to a notice.

There are currently €384 million of the securities outstanding.

Ageas currently holds €45.5 million of the notes. After the settlement date, Ageas intends to transfer its note holdings to the issuer in exchange for fully paid ordinary shares of Ageas.

Ageas is offering a purchase price of 82. Accrued interest will also be paid.

Only the notes held pursuant to Regulation S are eligible for the offer. Rule 144A holders may not participate.

Tenders will not be prorated.

The offer expires at 11 a.m. ET on Dec. 1.

Settlement will take place on Dec. 6.

The dealer managers are BNP Paribas (+33 1 55 77 78 94, liability.management@bnpparibas.com) and HSBC Continental Europe (+44 20 7992 6237, LM_EMEA@hsbc.com).

Kroll Issuer Services Ltd. is the tender and information agent (+44 20 7704 0880, ageas@is.kroll.com, https://deals.is.kroll.com/ageas).

Ageas is an insurance company with headquarters in Brussels and Utrecht, the Netherlands.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.