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.
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) |
National Transparency Template (NTT)
Harmonised Transparency Template
Documentation
| September, 2021 |
| Investor Presentation |
| Mei, 2022 |
| Investor Presentation |
| Januari, 2023 |
| Investor Presentation |
| Mei, 2023 |
| Achmea Bank SBCB 2023 - Supplemental Prospectus |
| September, 2023 |
| Achmea Bank SBCB 2023-2 - Supplemental Prospectus |