Ageas swaps old for new in blowout RT1 transaction
Ageas sold a restricted tier one (RT1) bond this week in an effort to replace some of its grandfathered securities. The insurer secured tight pricing, bolstered by about €5bn of orders.
Ageas was looking to sell a perpetual non-call 10.5 year RT1 bond, with expected ratings of BBB and BBB- from S&P and Fitch respectively.
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