Achmea Bank successfully issues €500 million Conditional Pass Through Covered Bonds

Wednesday 20 February 2019

Achmea Bank N.V. has successfully completed the second issuance of € 500 million bonds under its € 5 billion Conditional Pass Through Covered Bond Programme. The transaction was very well received in the capital markets and received broad interest from institutional investors across Europe. This transaction enables Achmea Bank to further diversify its funding sources and to attract new external long-term funding. The net proceeds will be used to refinance part of the existing Dutch prime residential mortgage portfolio.

The bonds have a maturity of seven years with a maturity date on 20 February 2026 and are priced at 18 basis points above mid-swap. The coupon on the bonds is 0.5% with an effective yield of 0.534%.

The bonds are rated Aaa by Moody’s and AAA by Fitch and were placed by a syndicate of banks comprising Barclays, Deutsche Bank, DZ BANK, Rabobank and UniCredit.

The bonds are listed on Euronext Amsterdam.

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