Aegon N.V. (NYSE: AEG) disclosed Monday that it has decided to launch an additional covered bond program. The firm will use a Soft Bullet structure to roll out this program. Aegon disclosed that in the future new covered bonds will be issued under this program. Aegon Bank N.V. is part of Aegon the Netherlands and presently works under two brands: Aegon Bank which is an online retail savings bank, and Knab which is an online bank for retail and self-hired clients.
Shares of Aegon soared 2.35% at $4.80 during the trading session of Friday. The firm has reported a trading volume of 2.01 million as compared to the average volume of 2.05 million. In the past 52-weeks of a trading session, the shares of the firm wavered between the 52-week low and high range of $2.10 and $5.11, respectively.
The shares of the firm surged 129.12% from its 52-week low and plunged -6.07% from its 52-week high. Looking at its profitability, it has recorded the Return on Equity (ROE), Return on Investment (ROI) of 0.00% and -0.70%. It has reported the Operating Margin of -0.70%. AEG has recorded a total market capitalization of $9.85 billion at the time of writing.
Furthermore, Aegon revealed that there are various benefits of the Covered Bond Program. The new Covered Bond Program will enable further expansion of the debt investor base. Moreover, it will also improve flexibility apropos bond maturities.