Aegon’s non-cumulative tier two hits $500m

25 Jan 2012

US retail accounts provided the bulk of demand for Aegon’s $500m issue on Tuesday, showing that there is a buyer base for non-cumulative tier two paper.

Leads Bank of America Merrill Lynch, Citi, Morgan Stanley and Wells Fargo printed the 30 year non-call 5.5 deal to yield 8%, in from initial price talk of 8%-8.125%. The deal had initially been announced as minimum size of $250m.

EuroWeek Bank Finance understands the deal is the first tier two from ...

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