Achmea Bank issues € 500 million soft bullet covered bonds

Thursday 19 October 2023


Achmea Bank N.V. has issued € 500 million covered bonds under its € 5 billion Soft Bullet Covered Bond Programme. This seventh issue brings the total outstanding amount of covered bonds to € 3.5 billion.

Forty investors participated and the total subscribed volume was approx. € 651 million. The bonds have a tenor of 3 years, a maturity date of 19 October 2026 and were issued at 26 basis points over mid-swap (coupon 3.75%). 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 comprising Norddeutsche Landesbank - Girozentrale, ABN AMRO, DZ Bank, NatWest Markets, Rabobank, Société Générale and UniCredit.

Additional information: Soft Bullet Covered Bond Programme

Press release

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