AEGON into EUR 2 billion syndicated credit facility
27 Janeiro 2012 - 5:00AM
UK Regulatory
TIDMAGN
AEGON enters into EUR 2 billion syndicated credit facility
AEGON completed a EUR 2 billion syndicated credit facility agreement with a
syndicate of international banks led by Bank of America Merrill Lynch and
Citigroup Global Markets.
The revolving standby facility has a term of five years with two one-year
extension options. AEGON maintains back-up credit facilities with international
banks to support outstanding amounts under AEGON's commercial paper programs
and to serve as additional liquidity sources. The facility also allows AEGON to
issue letters of credit for an amount up to EUR 1 billion.
The new facility replaces AEGON's current USD 3 billion syndicated letter of
credit and revolving credit facilities, which would have expired in September
2012.
Contact information
Media relations:
Greg Tucker
+31(0)70 344 8956
gcc-ir@aegon.com
Investor relations:
Willem van den Berg
+31 (0)70 344 8305
877 548 9668 - toll free USA only
ir@aegon.com
www.aegon.com
About AEGON
As an international life insurance, pension and asset management company based
in The Hague, AEGON has businesses in over twenty markets in the Americas,Europe and Asia. AEGON companies employ approximately 26,000 people and have some 40 million customers across the globe.
Key figures - EUR Third quarter Full year 2010
2011
Underlying earnings 361 million 1.8 billion
before tax
New life sales 405 million 2.1 billion
Gross deposits 10.5 billion 33 billion
Revenue-generating 404 billion 413 billion
investments (end of
period)
Forward-looking statements
The statements contained in this press release that are not historical facts
are forward-looking statements as defined in the US Private Securities
Litigation Reform Act of 1995. The following are words that identify such
forward-looking statements: aim, believe, estimate, target, intend, may,
expect, anticipate, predict, project, counting on, plan, continue, want,
forecast, goal, should, would, is confident, will, and similar expressions as
they relate to our company. These statements are not guarantees of future
performance and involve risks, uncertainties and assumptions that are difficult
to predict. We undertake no obligation to publicly update or revise any
forward-looking statements. Readers are cautioned not to place undue reliance
on these forward-looking statements, which merely reflect company expectations
at the time of writing. Actual results may differ materially from expectations
conveyed in forward-looking statements due to changes caused by various risks
and uncertainties. Such risks and uncertainties include but are not limited to
the following:
* changes in general economic conditions, particularly in the United States,
the Netherlands and the United Kingdom;
* changes in the performance of financial markets, including emerging
markets, such as with regard to:
- the frequency and severity of defaults by issuers in our fixed income
investment portfolios; and
- the effects of corporate bankruptcies and/or accounting restatements on the
financial markets and the resulting decline in the value of equity and debt
securities we hold;
* the frequency and severity of insured loss events;
* changes affecting mortality, morbidity, persistence and other factors that
may impact the profitability of our insurance products;
* changes affecting interest rate levels and continuing low or rapidly
changing interest rate levels; changes affecting currency exchange rates,
in particular the EUR/USD and EUR/GBP exchange rates;
* changes in the availability of, and costs associated with, liquidity
sources such as bank and capital markets funding, as well as conditions in
the credit markets in general
* increasing levels of competition in the United States, the Netherlands, the
United Kingdom and emerging markets;
* changes in laws and regulations, particularly those affecting our
operations, the products we sell, and the attractiveness of certain
products to our consumers;
* regulatory changes relating to the insurance industry in the jurisdictions
in which we operate;
* acts of God, acts of terrorism, acts of war and pandemics;
* changes in the policies of central banks and/or governments;
* lowering of one or more of our debt ratings issued by recognized rating
organizations and the adverse impact such action may have on our ability to
raise capital and on our liquidity and financial condition;
* lowering of one or more of insurer financial strength ratings of our
insurance subsidiaries and the adverse impact such action may have on the
premium writings, policy retention, profitability of its insurance
subsidiaries and liquidity;
* the effect of the European Union's Solvency II requirements and other
regulations in other jurisdictions affecting the capital we are required to
maintain;
* litigation or regulatory action that could require us to pay significant
damages or change the way we do business;
* customer responsiveness to both new products and distribution channels;
* competitive, legal, regulatory, or tax changes that affect the distribution
cost of or demand for our products;
* the impact of acquisitions and divestitures, restructurings, product
withdrawals and other unusual items, including our ability to integrate
acquisitions and to obtain the anticipated results and synergies from
acquisitions;
* our failure to achieve anticipated levels of earnings or operational
efficiencies as well as other cost saving initiatives.
Further details of potential risks and uncertainties affecting the company are
described in the company's filings with Euronext Amsterdam and the US
Securities and Exchange Commission, including the Annual Report on Form 20-F.
These forward-looking statements speak only as of the date of this press
release. Except as required by any applicable law or regulation, the company
expressly disclaims any obligation or undertaking to release publicly any
updates or revisions to any forward-looking statements contained herein to
reflect any change in the company's expectations with regard thereto or any
change in events, conditions or circumstances on which any such statement is
based.
JANUARY 27, 2012
Press release
END
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