Aegon holds roadshow for offering of fixed-to-floating rate subordinated notes

By Cristal Cody

Tupelo, Miss., April 3 – Aegon NV is holding a roadshow for an offering of fixed-to-floating rate subordinated notes due 2048 (Baa1/BBB), according to a market source on Tuesday.

The company announced details of the offering in a 424B3 filed with the Securities and Exchange Commission during the session.

J.P. Morgan Securities LLC, BofA Merrill Lynch, Deutsche Bank Securities Inc., Morgan Stanley & Co. LLC and Wells Fargo Securities LLC are the bookrunners.

Interest will accrue at a fixed rate for the first 10 years and at a rate based on six-month Libor after 2028.

The notes are non-callable for the first 10 years and then are callable at par.

Proceeds will be used for general corporate purposes, including refinancing securities.

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

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