Achmea Bank issues € 500 million soft bullet covered bonds

Tuesday 11 June 2024


Achmea Bank N.V. has successfully issued € 500 million covered bonds under its € 10 billion Soft Bullet Covered Bond Programme. This ninth issue brings the total outstanding amount of covered bonds to € 4.5 billion.

The transaction was well-received in the capital market with broad interest among European institutional investors: 48 investors subscribed with a total volume of over € 1 billion. The bonds have a tenor of 12 years, a maturity date of 11 June 2036 and were issued at 46 basis points above mid-swap (coupon 3.125 %). Achmea Bank will use the proceeds to (re)finance parts of its Dutch mortgage portfolio.

The bond is 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 the Joint Lead Managers Barclays Bank, BNP Paribas, Rabobank, DZ BANK, Natwest Markets, ING Bank and the Co-lead Manager Landesbank Hessen-Thüringen Girozentrale.

Additional information: Soft Bullet Covered Bond Programme


Press release

More news