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Soft Bullet Covered Bond

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Achmea Bank set up a EUR 5,000,000,000 Soft Bullet Covered Bond ("SBCB") Programme in June 2021 in addition to its conditional pass-through covered bond programme which was established in 2017.

The bonds issued under the SBCB Programme are backed by Dutch prime residential mortgage loans. For investors there is a so-called 'double recourse' which means that in the event of a 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
 Extension period  Max. 1 years
 Collateral  Dutch Prime Residental Mortgage Loans
 Asset percentage  94,30%
 Indexed LTV Cut Off  80%
 Minimum documented OC  Not Applicable
 Regulatory OC  5%

Bonds Issued

 ISIN  XS2392593161
 Size  EUR 500,000,000
 Documentation  Achmea Bank SBCB Issue 2021 1 Final Terms
 Issuance date  29 September 2021
 Maturity date  29 september 2036
 Ratings at issuance  AAA (S&P)

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.

National Transparency Template (NTT)

 November 2021
 October 2021
 September 2021

Harmonised Transparency Template

 November 2021
 October 2021
 September 2021
 June 2020

Documents incorporated