Ageas SA/NV has completed the placement of its subordinated debt in the form of Perpetual Subordinated Fixed Rate Resettable Temporary Write-Down Restricted Tier 1 Notes. The total amount issued is 450 million euros, with a fixed coupon rate of 5.875% payable annually. The securities, issued in denominations of 200,000 euros, will be revalued every five years starting from November 20, 2034. According to the group, there was significant interest in this issuance, with an oversubscription rate of more than five times.
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The securities issued by Ageas have no scheduled maturity date and cannot be redeemed by Ageas SA/NV until six months prior to November 20, 2034, except under limited circumstances. They are designed to qualify as Restricted Tier 1 capital for the Ageas group in accordance with European Solvency II regulations. The securities are likely to be rated BBB+ by Standard & Poor's and Fitch. Ageas has also filed an application for these securities to be admitted to the official list and traded on the Euro MTF market of the Luxembourg Stock Exchange. The issuance of the securities is scheduled for December 16, 2025.
Use of Proceeds and Corporate Overview
The net proceeds from this issuance will be allocated by Ageas SA/NV for general corporate purposes and to optimize the capital structure of the group. A portion of the new funds will be used to partially replace instruments that will no longer be eligible under the transitional provisions of Solvency II ('grandfathering'). Ageas is an insurance group primarily active in Europe and Asia, where it engages in life and non-life insurance as well as reinsurance activities.
Dommages météorologiques significatifs en Belgique et au Portugal affectant les résultats Non-Vie
Cession de la participation malaisienne modifiant le périmètre du groupe
Opportunities identified
Acquisition de 100% d'AG Insurance finalisée
Vente de participation en Malaisie à Maybank pour EUR 1,1 milliard
Renforcement de la présence sur le marché chinois des pensions via investissement dans Taiping Pension
Outlook / guidance
Expected net income: 1 950 millions d'euros
Management commentary: FY 2026 Net Operating Result is expected to exceed EUR 1.95 billion
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
