Achmea Bank issues € 500 million soft bullet covered bonds

Tilburg, 12 May 2025 – Achmea Bank N.V. has successfully issued € 500 million in Covered Bonds under its € 10 billion Soft Bullet Covered Bond Programme. This eleventh issue under this programme brings the total outstanding amount of Covered Bonds to € 5.15 billion.

The transaction was well-received in the capital market with broad interest among European Institutional Investors: 87 investors subscribed with a total volume of € 2.1 billion. The bonds have a tenor of 7 years, with a maturity date of 19 May 2032 and were issued at 45 basispoints above mid swap (coupon 2,75%). 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 Joint lead managers ABN AMRO Bank N.V., Banco Bilbao Vizcaya Argentaria, Barclays Bank, Deutsche Bank, Landesbank Baden Württemberg, Rabobank and Co-lead managers Landesbank Hessen-Thüringen Girozentrale and Norddeutsche Landesbank.

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