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 former conditional pass-through covered bond programme which was established in 2017. In January 2024, the SBCB Programme was expanded from €5 billion to €10 billion.

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 10,000,000,000
 Active  Yes
 Registrated  Yes, Dutch Central Bank

 Arranger

 RABOBANK
 Extension period  Max. 1 years
 Collateral  Dutch Prime Residental Mortgage Loans
 Asset percentage  92.70%
 Indexed LTV Cut Off  80%
 Minimum documented OC  Not Applicable
 Regulatory OC  5%
 European Covered Bond (Premium) Label  Yes
 Investor Presentation Investor presentation 10-2024
 Base Prospectus

 Update 2024
 Supplement 2024
 Supplement 2024-2

Bonds Issued

ISIN XS2392593161 (Series1)
Size EUR 500,000,000
Documentation Final terms 2021 1
Isuance date 29 September 2021
Maturity date 29 September 2036
Ratings at issuance 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 at
Issuance
AAA (S&P)

ISIN XS2484321950 (Series 2)
Size EUR 500,000,000
Documentation Final terms 2022 1
Issuance date 24 May 2022
Maturity date 24 May 2029
Ratings at issuance 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 at
Issuance
AAA (S&P)

ISIN XS2582112947
(Series 3)
Size EUR 500,000,000
Documentation Final terms 2023 1
Issuance date 31 January 2023
Maturity date 31 January 2030
Ratings at issuance AAA (S&P)

ISIN XS2706237513
(Series 7)
Size EUR 500,000,000
Documentation Final terms 2023 3
Issuance date 19 October 2023
Maturity date 19 October 2026
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 at
Issuance
AAA (S&P)

ISIN XS2761358055
(Series 8)
Size EUR 500,000,000
Documentation Final terms 2024 1
Issuance date 7 February 2024
Maturity date 7 February 2034
Ratings at
Issuance
AAA (S&P)

 

ISIN XS2833410033 (Series 9)
Size EUR 500,000,000
Documentation Final terms 2024 2
Issuance date 11 June 2024
Maturity date 11 June 2036
Ratings at
Issuance
AAA (S&P)


ISIN XS2919192869 (Series 10)
Size EUR 650,000,000
Documentation Final terms 2024 3
Issuance date 15 October 2024
Maturity date 15 October 2027
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.

Documents incorporated