Achmea prices € 750 million of Tier 2 Notes

Achmea has today successfully priced € 750 million of new Tier 2 notes with a maturity of 20.5 years, callable after 10.5 years on 2nd May 2034 (subject to redemption conditions).

The Tier 2 notes were priced at a reoffer spread of 285bps over mid-swaps with a coupon of 5.625% until the first reset note reset date on 2nd November 2034.

The transaction was extremely well received, with a final book of over € 3 billion from global fixed income investors, representing an oversubscription of 4x, which allowed the spread to be tightened by 25bps from Initial Pricing Thoughts (“IPTs”) to reoffer.

The Tier 2 Notes are expected to be rated BBB- by S&P and BBB by Fitch and are expected to be listed on Euronext Dublin on 2nd May 2024.

The Tier 2 Notes have been placed by ABN AMRO Bank N.V., Barclays Bank Ireland Plc, BNP Paribas, Deutsche Bank Aktiengesellschaft, HSBC Continental Europe and NatWest Markets N.V. who acted as Joint Bookrunners on the transaction. The Tier 2 Notes have been issued under the Achmea B.V. € 5 billion Debt Issuance Programme (more information on https://www.achmea.nl/en/investors/debt-information).