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AEGON N.V., 6.875% Perpetual Capital Securities
Ticker Symbol: AEV* CUSIP: N00927306 Exchange: NYSE
* NOTE: This security is no longer trading as of 3/15/2014
Security has been Called for: Saturday, March 15, 2014
January 22, 2014 -- Aegon today announces that it will call for the redemption of junior perpetual capital securities with a coupon of 6.875% issued in 2006 (ISIN code: NL0000686368). The redemption will be effective March 15, 2014, when the principal amount of USD 550 million will be repaid with accrued interest. Aegon's decision to call the perpetual capital securities supports the company's target to lower its gross financial leverage ratio to within a range of 26 to 30%. The redemption will improve Aegon's gross financial leverage ratio by 1.2 percentage points and reduce future interest costs, improving the company's fixed charge coverage by approximately 0.6 times. The securities are currently listed on the New York Stock Exchange with symbol AEV. This listing will be terminated following the redemption of the securities. Currently, junior perpetual capital securities are included as capital in Aegon's group IGD solvency ratio. The redemption of these securities will negatively impact Aegon's group IGD ratio by approximately six percentage points. On September 30, 2013, the pro forma group IGD solvency ratio including the repayment of the securities would have been approximately 202%. Aegon's continued strong solvency ratio demonstrates the company's long-term commitment to maintaining a solid capital position.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: AEGON N.V., 6.875% Perpetual Capital Securities, liquidation preference $25 per share, redeemable at the issuer's option on or after 9/15/2011 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 6.875% ($1.71875) per annum are paid quarterly on 3/15, 6/15, 9/15 & 12/15 to holders of record on 3/1, 6/1, 9/1 & 12/1 respectively (NOTE: the ex-dividend date is at least 2 business days prior to the record date). The company can defer interest payments for any period of time; provided, however, that such deferred payments will become immediately due and payable if they make any payment on, or repurchase or redeem their Junior Securities or Parity Securities. Dividends paid by these capital securities are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) but, since they are issued by a foreign company, are NOT eligible for the dividends received deduction for corporate holders (see page S-41 of the prospectus for further information). In regards to payment of dividends and upon liquidation, the preferred shares rank equally with other preferreds and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (AEG)
IPO - 6/22/2006 - 20.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Previous Ticker Symbol: AEGUF Changed: 7/21/2006
Market Value $500.0 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Foreign Address and Phone Numbers |
| Address: AEGONplein 50, 2501 CB The Hague, the Netherlands |
| Main Phone Number |
+31-70-344-8305 |
| Fax Number |
+31-70-344-5238 |
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Inv Rel Phone Number
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+31 70 344 8405 |
| Address and Phone Numbers |
| U.S. Representative |
AEGON USA |
| Address: |
| Main Phone Number |
781-575-4555 |
| Fax Number |
201-324-3284 |
| Investor Relations
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781-575-4555
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| Toll Free Phone Number |
877-548-9668 |
| CEO - Alex Wynaendts |
CFO - Jan Nooitgedagt |
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