Aegon bond issue offsets Reg XXX
Aegon, the second-largest Dutch insurer, launched a senior bond at the end of November that is designed to cut back its exposure to bank credit lines. Deutsche Bank and JPMorgan lead-managed the 5500 million 10-year transaction.
Rated A2 by Moody’s and A+ by Standard & Poor’s, Aegon is undertaking this course of action to streamline its funding sources and is in response to Regulation XXX that was implemented in 2000. The regulation forces insurance companies to increase reserves.
Firms have
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