Achmea Bank successfully issues €500 million covered bonds
Achmea Bank N.V. has successfully issued €500 million covered bonds under the €5 billion Conditional Pass-Through Covered Bond programme. This is the third issuance under this programme and raises the amount currently issued under this programme to €1.5 billion.
The transaction has been very well-received in the capital markets with broad interest among European institutional investors. Over 100 investors participated and the total volume was in excess of €2.8 billion.
Achmea Bank will use the proceeds to refinance parts of its existing Dutch mortgage portfolio.
The bonds have a duration of 5 years with 16 June 2025 as a maturity date. They were issued at 24 basis points over mid-swap, leading to a coupon of 0.01%.
The bond is rated ‘Aaa’ by Moody’s and ‘AAA’ by Fitch and will be listed on Euronext Amsterdam. The covered bond has been placed by a syndicate of banks consisting of ABN AMRO, DZ Bank, ING, Rabobank, Société Générale en UniCredit.
Achmea Bank will use the proceeds to refinance parts of its existing Dutch mortgage portfolio.
The bonds have a duration of 5 years with 16 June 2025 as a maturity date. They were issued at 24 basis points over mid-swap, leading to a coupon of 0.01%.
The bond is rated ‘Aaa’ by Moody’s and ‘AAA’ by Fitch and will be listed on Euronext Amsterdam. The covered bond has been placed by a syndicate of banks consisting of ABN AMRO, DZ Bank, ING, Rabobank, Société Générale en UniCredit.