Soft Bullet Covered Bond

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Achmea Bank set up a EUR 5,000,000,000 Soft Bullet Covered Bond ("SBCB") Programme in June 2021 in addition to its conditional pass-through covered bond programme which was established in 2017.

The bonds issued under the SBCB Programme are backed by Dutch prime residential mortgage loans. For investors there is a so-called 'double recourse' which means that in the event of a 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
 Extension period  Max. 1 years
 Collateral  Dutch Prime Residental Mortgage   Loans
 Asset percentage  93,17%
 Indexed LTV Cut Off  80%
 Minimum documented OC  Not Applicable
 Regulatory OC  5%
 European Covered Bond (Premium)   Label  Yes

Bonds Issued

 ISIN  XS2392593161 (Series1)
 Size  EUR 500,000,000
 Documentation Achmea Bank SBCB Issue 2021 1 Final Terms
 Isuance date  29 September 2021
 Maturity date  29 September 2036
 Ratings at issuance  AAA (S&P)
 ISIN  XS2484321950 (Series 2)
 Size  EUR 500,000,000
 Documentation  Achmea Bank SBCB Issue 2022 1 Final Terms
 Issuance date  24 May 2022
 Maturity date  24 May 2029
 Ratings at issuance  AAA (S&P)
 ISIN  XS2582112947 (Series 3)
 Size  EUR 500,000,000
 Documentation  Achmea Bank SBCB Issue 2023 1 Final Terms
 Issuance date  31 January 2023
 Maturity date  31 January 2030
 Ratings at issuance   AAA (S&P)
 ISIN  XS1722558258 (Series 4)
 Size  EUR 500,000,000
 Documentation Final terms 2017
 Issuance date 22 November 2017
 Maturity date 22 November 2024
 Ratings  AAA (S&P)
 ISIN XS1953778807 (Series 5)
 Size EUR 500,000,000
 Documentation Final terms 2019
 Issuance date 20 February 2019
 Maturity date 20 February 2026
 Ratings  AAA (S&P)
 ISIN XS2189964773 (Series 6)
 Size EUR 500,000,000
 Documentation Final terms 2020
 Issuance date 16 June 2020
 Maturity date 16 June 2025
 Ratings  AAA (S&P)

Investor Reports

The Dutch Association of Covered Bonds recommends you to use the National Transparency Template, as it contains all relevant information of the Issuers programme on a more detailed basis.

Documents incorporated