Conditional Pass-Through Covered Bond

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Achmea Bank has set up a EUR 5,000,000,000 Conditional Pass-Through Covered Bond Programme (“CPTCB”) in November 2017 to replace its existing soft bullet covered bond programme which has been terminated in October 2017.  

The Achmea Conditional Pass-Through Covered Bond Company (“ACPTCB”), a bankruptcy remote special purpose vehicle, provides the covered bond investors a guarantee for full payment of interest and principal on the outstanding bonds under the programme by pledging the mortgage receivables of Achmea Bank to the ACPTCB and a parallel debt agreement with the Security Trustee. For investors there is a so-called ‘double recourse’ which means that in the event of default of the Bank an investor has recourse on the bank and on the underlying mortgage portfolio

Programme overview

Programme size EUR 5,000,000,000 
 Active Yes
 Registrated Yes, Dutch Central Bank
 Arranger RABOBANK
 Documentation





CPTCB Update 2019 Base Prospectus BLACK
CPTCB Update 2019 Supplemental Prospectus
CPTCB Update 2020 Second Supplemental Prospectus
CPTCB Update 2021 Third Supplement Prospectus
Investor Presentation
Fitch Rating October 2020
Moodys Rating October 2020
 Extension peroid Max. 32 years
 Collateral Dutch Prime Residental Mortgage Loans
 Asset percentage 93,5%
 Indexed LTV Cut Off 80%
 Minimum documented OC N.A
 Regulatory OC 5%

Bonds Issued

 ISIN XS2189964773
 Size EUR 500,000,000
 Documentation Achmea Bank CPTCB Series 3 Final Terms
 Issuance date 16 June 2020
 Maturity date
16 June 2025
 Ratings at issuance Aaa  (Moody’s), AAA (Fitch)

 

 ISIN XS1953778807
 Size EUR 500,000,000
 Documentation Achmea Bank CPTCB Series 2 Final Terms
 Issuance date 20 February 2019
 Maturity date
20 February 2026
 Ratings at issuance AAA (Fitch), Aaa (Moody’s)

 

 ISIN XS1722558258
 Size EUR 500,000,000
 Documentation Achmea Bank CPTCB Series 1 Final Terms
 Issuance date 22 November 2017
 Maturity date
22 November 2024
 Ratings at issuance AAA (Fitch), Aaa (Moody's)


Investor Reports

The Dutch Association of Covered Bonds recommends you to use the National Transparency Template, as it contains all relevant information of the Issuers programme on a more detailed basis.

Documents incorporated