Home Nieuws en Pers Pers a.s.r. issues € 500 million subordinated 30NC10 Tier 2 bond
Pers Utrecht 25 april 2019 17:55 EU/Amsterdam

a.s.r. issues € 500 million subordinated 30NC10 Tier 2 bond

ASR Nederland N.V. (a.s.r.) today successfully launched and priced a € 500 million subordinated Tier 2 capital instrument. The bond was priced at 300 basis points over the 10 year mid-swap rate, with a fixed rate coupon of 3.375%. The bond has a scheduled maturity date at 2049 and is first callable on the date falling 3 months prior to the first reset date of 2 May 2029.

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The final orders totalled more than € 5 billion, demonstrating the widespread support from investors for a.s.r. The securities were placed primarily with fund managers, insurers and specialist funds across Europe.

Chris Figee, CFO: 'Today a.s.r. successfully placed a Tier 2 Solvency II qualifying capital instrument, while maintaining ample headroom in all capital tiers and a very strong financial flexibility. The coupon reflects the strong confidence of the investment community in our company. With this transaction, a.s.r. further established its name in the hybrid debt capital market. We thank our investors for their ongoing support and trust in a.s.r.'

 

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