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  93,17%
 Indexed LTV Cut Off  80%
 Minimum documented OC  Not Applicable
 Regulatory OC  5%
 European Covered Bond (Premium)   Label  Yes

Bonds Issued

ISIN XS2392593161 (Series1)
Size EUR 500,000,000
Documentation Achmea Bank SBCB Issue 2021 1 Final Terms
Isuance date 29 September 2021
Maturity date 29 September 2036
Ratings at issuance AAA (S&P)
ISIN XS2484321950 (Series 2)
Size EUR 500,000,000
Documentation Achmea Bank SBCB Issue 2022 1 Final Terms
Issuance date 24 May 2022
Maturity date 24 May 2029
Ratings at issuance AAA (S&P)
ISIN XS2582112947 (Series 3)
Size EUR 500,000,000
Documentation Achmea Bank SBCB Issue 2023 1 Final Terms
Issuance date 31 January 2023
Maturity date 31 January 2030
Ratings at issuance AAA (S&P)
ISIN XS1722558258 (Series 4)
Size EUR 500,000,000
Documentation Final terms 2017
Issuance date 22 November 2017
Maturity date 22 November 2024
Ratings AAA (S&P)
ISIN XS1953778807 (Series 5)
Size EUR 500,000,000
Documentation Final terms 2019
Issuance date 20 February 2019
Maturity date 20 February 2026
Ratings AAA (S&P)
ISIN XS2189964773 (Series 6)
Size EUR 500,000,000
Documentation Final terms 2020
Issuance date 16 June 2020
Maturity date 16 June 2025
Ratings 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.

Documents incorporated