Ageas grants subordinated loan to AG Insurance

Today Ageas announces that it is granting a EUR 225 million subordinated loan to its Belgian subsidiary AG Insurance as a partial replacement for the USD 550 million Fixed Rate Reset Perpetual Subordinated Notes AG Insurance called on 21 March 2019.

The loan, which qualifies as Tier 2 capital under Solvency II at the level of AG Insurance and matures in 2049 with a first call date in 2029, is issued at an effective yield of 3.46% and a fixed interest rate up to the first call date of 3.25%.