Achmea Bank successfully issues € 500 million soft bullet covered bonds

Wednesday 07 February 2024


Achmea Bank N.V. has successfully issued € 500 million covered bonds under its € 10 billion Soft Bullet Covered Bond Programme. This eighth issue brings the total outstanding amount of covered bonds to € 4 billion.

The transaction was well-received in the capital market with broad interest among European institutional investors. Almost 100 investors subscribed with a total volume of approx. € 2.85 billion. The bonds have a tenor of 10 years, a maturity date of 7 February 2034 and were issued at 47 basis points above mid-swap (coupon 3 %). 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 the Joint Lead Managers BNP Paribas, Rabobank, DZ BANK, HSBC, ING Bank, Société Générale and the Co-lead Manager Norddeutsche Landesbank - Girozentrale.

Additional information: Soft Bullet Covered Bond Programme

Press release

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