Achmea Bank issues € 500 million soft bullet covered bonds

Tilburg, 18 June 2025 – Achmea Bank N.V. has successfully issued € 500 million in Covered Bonds under its € 10 billion Soft Bullet Covered Bond Programme. This twelfth 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: 62 investors subscribed with a total volume of over € 1.8 billion. The bonds have a tenor of 5 years, with a maturity date of 25 June 2030 and were issued at 36 basis points above mid-swap (coupon 2.5%). 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 BNP PARIBAS, DZ BANK, HSBC, ING, Rabobank, Santander and the 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.