Today Achmea Bank N.V. successfully issued its first Tier 2 Notes under its € 10 billion European Medium Term Note Programme.

The transaction consists of € 125 million 12.25NC7.25 Tier 2 Notes priced with a coupon of 5.875% until first coupon reset date on 6th November 2031.

The issuance of the Tier 2 Notes has a positive effect on Achmea Bank's capitalisation of 2.7%-point to a Total Capital Ratio of 19.6% (based on the FY 2023 CET1 of 16.9%). This increases the Achmea Group solvency ratio by approximately 3%-point on a pro forma basis.

The Tier 2 Notes will be listed on Euronext Dublin and are expected to be rated BBB by S&P and BBB+ by Fitch. The transaction was placed by HSBC.

Additional information: European Medium Term Note Programme.

Press release