Skip to main content

Ageas obtains successful outcome of the FRESH consent solicitation

Written by Customer Service on . Posted in Public Companies.

Ageas announces today that a majority of 65.40% (EUR 817,500,000) of the aggregate principal amount of the FRESH securities outstanding consented to amend the conditions of the FRESH, enabling their purchase by Ageasfinlux S.A.iConsequently, Ageasfinlux S.A. will proceed with the tender offer announced on 19 November 2019. FRESH holders who did not yet tender can still do so until 10:00 a.m. CET on 3 January 2020. The final results of the tender offer will be announced on 3 January 2020 after closing of Euronext Brussels.Following the success of the consent solicitation, ageas SA/NV intends to issue a new Restricted Tier 1 subordinated instrument. The outcome of the debt issuance will be communicated in due time.Ageas CEO Bart De Smet said: “We are very pleased that the requisite consent to enable the tender offer for the FRESH was obtained. We welcome additional tenders by holders of the FRESH who have not yet tendered, as this is a unique opportunity to exit a low yielding financing instrument stemming from the past. In conjunction with the new debt issuance, this operation allows Ageas to modernise its capital structure by reducing its reliance on grandfathered capital instruments, and represents another milestone in improving the financial flexibility of the Group while offering a window of liquidity to FRESH holders.”Ageas is a listed international insurance Group with a heritage spanning almost 200 years. It offers Retail and Business customers Life and Non-Life insurance products designed to suit their specific needs, today and tomorrow. As one of Europe’s larger insurance companies, Ageas concentrates its activities in Europe and Asia, which together make up the major part of the global insurance market. It operates successful insurance businesses in Belgium, the UK, France, Portugal, Turkey, China, Malaysia, India, Thailand, Vietnam, Laos, Cambodia, Singapore, and the Philippines through a combination of wholly owned subsidiaries and long term partnerships with strong financial institutions and key distributors. Ageas ranks among the market leaders in the countries in which it operates. It represents a staff force of over 45,000 people and reported annual inflows of over EUR 34 billion in 2018 (all figures at 100%).This announcement is neither an offer to purchase, nor a solicitation of an offer to sell, the FRESH securities or any other securities. Ageasfinlux S.A. is making the offer only by, and pursuant to, the terms of the offer to purchase and consent solicitation statement. The offer and consent solicitation are not being made in any jurisdiction in which the making of or acceptance thereof would not be in compliance with the securities laws, blue sky laws or other laws of such jurisdiction.i [i] For more details we refer to the related press release of Ageasfinlux S.A.AttachmentPdf version of the press release

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.