Ageas to redeem €95.15 million 5.125% perpetual securities in full

By Angela McDaniels

Tacoma, Wash., April 12 – Ageas Hybrid Financing SA will redeem its 5.125% perpetual securities guaranteed by Ageas SA/NV in full on June 20, their first call date, according to a company news release.

Tender offers in March 2013 and March 2015 have reduced the amount of securities outstanding to €95,146,000.

The company issued €500 million of the securities in 2006 and lent the proceeds to AG Insurance SA/NV. AG Insurance plans to repay the loan in full on June 20, prompting Ageas Hybrid Financing to call the securities.

National Bank of Belgium has approved the redemption.

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

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