Aegon calls all $1.05 billion of 7.25% perpetual capital securities

By Tali Rackner

Norfolk Va., April 28 - Aegon NV plans to redeem all $1.05 billion of its 7.25% perpetual capital securities, according to a notice.

The securities will be redeemed with accrued interest on June 15.

Aegon said its decision to call the perpetual capital securities supports its target to maintain a fixed-charge cover within a range of 6 to 8 times. As a result of this call and the recent issuance of €700 million subordinated notes, Aegon's fixed-charge cover is expected to increase roughly 0.7 times on an annualized basis, the notice said.

The international life insurance, pensions and asset management company is based in the Hague, the Netherlands.

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