a.s.r. issues € 500 million subordinated Tier 2 bond
ASR Nederland N.V. (a.s.r.) today launched and priced a successful € 500 million subordinated Tier 2 capital transaction. The transaction priced at 420 basis points over the 10 year swap rate and with a fixed rated coupon of 5.125% The transaction has final maturity in 2045 with a first call date on 29 September 2025.
During the week preceding the transaction a.s.r.'s Management Team completed a well received 3-day roadshow with major European institutional investors across Netherlands, United Kingdom, France and Germany.
After formally launching the transaction this morning, a.s.r. received a very good response from major European investors and this new transaction has been placed primarily with fund managers, insurance and pension funds in United Kingdom, Netherlands, France and Nordic countries.
With this transaction, a.s.r. has successfully broadened its profile amongst major European fixed income investors and raised Solvency II qualifying capital with a low 5.125% coupon.
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