Achmea Bank issues € 500 million soft bullet covered bonds

Tilburg, 8 September 2025 – Achmea Bank N.V. has successfully issued € 500 million in Covered Bonds under its € 10 billion Soft Bullet Covered Bond Programme. This thirteenth issue under this programme brings the total outstanding amount of Covered Bonds to € 5.65 billion.

The transaction was well-received in the capital market with broad interest among European Institutional Investors: 66 investors subscribed with a total volume of over € 1.4 billion. The bonds have a tenor of 7 years, with a maturity date of 15 September 2032 and were issued at 37 basis points above mid-swap (coupon 2.75%). Achmea Bank will use the proceeds to (re)finance parts of its Dutch mortgage portfolio. 

The bond is expected to be rated ‘AAA’ by Standard & Poor’s and will be listed on Euronext Amsterdam. The covered bonds have been placed by a syndicate of banks consisting of Joint lead managers ABN AMRO Bank N.V., Banco Bilbao Vizcaya Argentaria, BNP PARIBAS, Deutsche Bank, DZ 
BANK, Landesbank Baden-Württemberg and the Co-lead manager Landesbank Hessen-Thüringen Girozentrale. 

The Notes have been issued under the Achmea Bank N.V. € 10 billion Soft Bullet Covered Bond Programme, dated 23 January 2025 and supplemented on 7 April 2025 and on 27 August 2025: https://www.achmeabank.nl/en/investors/funding/soft-bullet-covered-bond