Achmea Bank issues € 500 million soft bullet covered bonds

Tilburg, 25 November 2025 – Achmea Bank N.V. has successfully issued € 500 million in Covered Bonds under its € 10 billion Soft Bullet Covered Bond Programme. This fourteenth issue under this programme brings the total outstanding amount of Covered Bonds to € 6.15 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 € 1.9 billion. The bonds have a tenor of 8 years, with a maturity date of 2 December 2033 and were issued at 34 basis points above mid-swap (coupon 2.875%). 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, DZ BANK, Landesbank Baden-Württemberg, Rabobank 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, 27 August 2025 and 25 November 2025: https://www.achmeabank.nl/en/investors/funding/soft-bullet-covered-bond.