Achmea successfully issues €750 million of Subordinated Notes
Zeist – Achmea B.V. has successfully priced the issuance of €750,000,000 of Subordinated Notes (the “Notes”). The transaction received broad interest primarily from European institutional investors with an order-book that was almost five times oversubscribed. The Notes are undated with a first call option after 10 years (first call date is 4 February, 2025).
The Notes are priced at 355 basis points above the 10-years midswap rate. The coupon on the Notes equals 4.25%. The Notes will be listed on the Irish Stock Exchange in Dublin, Ireland. The Notes are rated BBB by Standard & Poor’s (based on Achmea B.V.’s A- counterparty credit rating) and were placed by a syndicate of banks comprising of Barclays, Deutsche Bank, JP Morgan, Rabobank and Royal Bank of Scotland. Settlement of the Notes is expected at 4 February, 2015.
More information can be found on our website: www.achmea.com