Achmea Bank has set up a EUR 5,000,000,000 Conditional Pass-Through Covered Bond Programme (“CPTCB”) in November 2017.
The Achmea Conditional Pass-Through Covered Bond Company (“ACPTCB”), a bankruptcy remote special purpose vehicle, provides the covered bond investors a guarantee for full payment of interest and principal on the outstanding bonds under the programme by pledging the mortgage receivables of Achmea Bank to the ACPTCB and a parallel debt agreement with the Security Trustee. For investors there is a so-called ‘double recourse’ which means that in the event of default of the Bank an investor has recourse on the bank and on the underlying mortgage portfolio
Programme overview
| Programme size | EUR 5,000,000,000 |
| Active | Yes |
| Registrated | Yes, Dutch Central Bank |
| Arranger | RABOBANK |
| Documentation |
CPTCB Update 2019 Base Prospectus BLACK CPTCB Update 2019 Supplemental Prospectus CPTCB Update 2020 Second Supplemental Prospectus CPTCB Update 2021 Third Supplement Prospectus Investor Presentation Fitch Rating October 2020 Moodys Rating October 2020 |
| Extension peroid | Max. 32 years |
| Collateral | Dutch Prime Residental Mortgage Loans |
| Asset percentage | 93,5% |
| Indexed LTV Cut Off | 80% |
| Minimum documented OC | N.A |
| Regulatory OC | 5% |
Bonds Issued
| ISIN | XS2189964773 |
| Size | EUR 500,000,000 |
| Documentation | Achmea Bank CPTCB Series 3 Final Terms |
| Issuance date | 16 June 2020 |
| Maturity date |
16 June 2025 |
| Ratings at issuance | Aaa (Moody’s), AAA (Fitch) |
| ISIN | XS1953778807 |
| Size | EUR 500,000,000 |
| Documentation | Achmea Bank CPTCB Series 2 Final Terms |
| Issuance date | 20 February 2019 |
| Maturity date |
20 February 2026 |
| Ratings at issuance | AAA (Fitch), Aaa (Moody’s) |
| ISIN | XS1722558258 |
| Size | EUR 500,000,000 |
| Documentation | Achmea Bank CPTCB Series 1 Final Terms |
| Issuance date | 22 November 2017 |
| Maturity date |
22 November 2024 |
| Ratings at issuance | AAA (Fitch), Aaa (Moody's) |
National Transparency Template (NTT)
Harmonised Transparency Template
Financial Statements
- Annual Report 2017 Achmea Bank N.V.
- Annual Report 2018 Achmea Bank N.V.
- Press release HY 2019 Achmea Bank N.V.
- Annual Report 2018 Achmea Conditional Pass-Through Covered Bond Company
- Annual Report 2019 Achmea Conditional Pass-Through Covered Bond Company
- Annual Report 2020 Achmea Conditional Pass-Through Covered Bond Company
- Annual Report 2021 Achmea Conditional Pass-Through Covered Bond Company