Ageas Hybrid Financing : Regulated information - Ageas Hybrid Financing
notifies holders of intention to call the NITSH II Securities on 3 June 2013
Ageas Hybrid Financing ("AHF") issued EUR 625 million 8% Perpetual Securities
(XS0362491291) (the "NITSH II Securities") in 2008, supported and guaranteed
on a subordinated basis by ageasSA/NV (formerly Fortis N.V. and Fortis
SA/NV). The NITSH II Securities have a first call date falling on Sunday 2
The proceeds of the issue of the NITSH II Securities were on-lent to
AGInsuranceSA/NV, in an amount of EUR250million, and BNP Paribas
FortisSA/NV (formerly Fortis BankSA/NV), in an amount of EUR375 million.
Both AG InsuranceSA/NV and BNP Paribas FortisSA/NV have notified AHF that
they intend to repay the on-loans in full as at their first call date.
AHF has therefore decided to call the NITSHII Securities in whole at their
first call date. Notice thereof will also be given to holders of the NITSHII
Securities in accordance with their terms and payment of the redemption price
will be made on Monday 3June2013. AHF has obtained the prior approval of the
National Bank of Belgium for this optional redemption of the NITSHII
AHF continues to have a US$750 million subordinated exposure to BNP Paribas
FortisSA/NV as a result of the on-lending of the US$750 million 8.25%
Perpetual Securities (XS0346793713) (the "NITSHI Securities"). The NITSHI
Securities have a first call date of 27August2013. AHF will inform the
market on or before 15July2013 with regard to potential evolutions in this
exposure, and, in accordance with the terms of the NITSHI Securities, inform
the holders of these securities of its call intentions.
AHF also continues to have a EUR 336.4 million subordinated exposure to AG
InsuranceSA/NV as a result of the on-lending of the proceeds of the remaining
Hybrone securities after settlement of the tender offer for the Hybrone
securities (see press releases of 6, 14 and 21March 2013). The remaining
Hybrone securities have a first call date on 20June2016.
Ageas Hybrid Financing S.A. is a fully owned Ageas company with limited
liability under Luxembourg law registered in Luxembourg with the Register of
Commerce and Companies under number R.C.S. Luxembourg B116.671. The object of
AHF is the issuing of securities ranking pari passu among themselves,
qualifying as solvency for ageasSA/NV and the group of companies it owns
and/or controls (the "Ageas Group") and to on-lend proceeds in instruments
issued or loans entered into by any of the Ageas Group operating companies
that qualify as solvency for such Group entity, with the exclusion of ordinary
Ageas Hybrid Financing S.A.
65 Boulevard Grande-Duchesse Charlotte
Pdf version of the press release
This announcement is distributed by Thomson Reuters on behalf of Thomson
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
information contained therein.
Source: Ageas Hybrid Financing via Thomson Reuters ONE
Press spacebar to pause and continue. Press esc to stop.