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	94,30%
Indexed LTV Cut Off	80%
Minimum documented OC	Not Applicable
Regulatory OC	5%

Bonds Issued

ISIN	XS2392593161
Size	EUR 500,000,000
Documentation	Achmea Bank SBCB Issue 2021 1 Final Terms
Issuance date	29 September 2021
Maturity date	29 september 2036
Ratings at issuance	AAA (S&P)

ISIN	XS2484321950
Size	EUR 500,000,000
Documentation	Achmea Bank SBCB Issue 2022 1 Final Terms
Issuance date	24 mei 2022
Maturity date	24 mei 2029
Ratings at issuance	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.