Achmea Bank issues second €500 million soft bullet covered bond
Tuesday 24 May 2022
Tilburg, 24 May 2022 – Achmea Bank N.V. issued a second € 500 million tranche under its €5 billion Soft Bullet Covered Bond Programme, which was established in 2021. Including an amount of €1.5 billion already outstanding under its Conditional Pass-Through Covered Bond Programme, this issue brings the total outstanding covered bond volume issued by Achmea Bank to €2.5 billion.
The transaction has been well-received in the capital markets with broad interest among European institutional investors. The bonds have a tenor of seven years and a maturity date of 24 May 2029. 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 bond has been placed by a syndicate of banks comprising ABN AMRO, Rabobank, UniCredit, BNP Paribas, Deutsche Bank and DZ Bank.
Additional information: Soft Bullet Covered Bond - Achmea Bank