News

Achmea announces final result of tender offer

Thu, 02 May 2024 10:30:00 +0200

Achmea B.V. (“Achmea”) today announces the final result of its invitation made to holders of its € 750 million Fixed to Floating Undated (Perpetual) Subordinated Option B Notes (ISIN: XS1180651587, the "Existing Subordinated Notes”), to offer all of their Existing Subordinated Notes for purchase by Achmea in cash (such invitation, the "Offer").

The Offer was made subject to the terms and conditions set out in the tender offer memorandum of 23 April 2024 (the "Tender Offer Memorandum") with an Expiration Deadline of 1 May 2024 at 17.00 CET.

Achmea hereby announces that the aggregate nominal amount of the Existing Subordinated Notes validly accepted for purchase subject to the terms and conditions (including the New Issue Condition) set out in the Tender Offer Memorandum is € 356,507,000.

Subject to the satisfaction or waiver of the New Issue Condition on or prior to such date, settlement is expected to take place on 3 May 2024.

ABN AMRO Bank N.V., Barclays Bank Ireland Plc, BNP Paribas, Deutsche Bank Aktiengesellschaft, HSBC Continental Europe and NatWest Markets N.V. are acting as dealer managers for the Offer. Kroll Issuer Services Limited is acting as Tender Agent (Tel: +44 20 7704 0880; Attention: Alessandro Zorza; E-mail: achmea@is.kroll.com; Site: https://deals.is.kroll.com/achmea).

Achmea announces maximum acceptance amount of its Offer

Thu, 25 Apr 2024 15:28:19 +0200

Achmea B.V. (the “Offeror”) announced that it is inviting holders (the “Holders”) of its outstanding € 750,000,000 Fixed to Floating Undated (Perpetual) Subordinated Option B Notes issued on 4 February 2015 (ISIN: XS1180651587) (the “Notes”) to tender their Notes for purchase by the Offeror for cash up to the Maximum Acceptance Amount (as stated below) subject to, among other things, the satisfaction (or waiver) of the New Issue Condition (such invitation, the “Offer”). Following the pricing of the New Notes to be issued by the Offeror, the Offeror announces the Maximum Acceptance Amount in respect of the Offer will be € 750,000,000.

The Offeror reserves the right to accept significantly less than the Maximum Acceptance Amount in its sole and absolute discretion.

The Offer was announced on 23 April 2024 and was made on the terms and subject to the conditions contained in the tender offer memorandum dated 23 April 2024 (the “Tender Offer Memorandum”) including, without limitation, the satisfaction (or waiver) of the New Issue Condition.

Capitalised terms used in this announcement but not defined have the meanings given to them in the Tender Offer Memorandum.

For detailed terms of the Offer please refer to the Tender Offer Memorandum which (subject to the offer and distribution restrictions set out therein) can be obtained from the Tender Agent referred to below.

Dealer Managers
ABN AMRO Bank N.V., Barclays Bank Ireland Plc, BNP Paribas, Deutsche Bank Aktiengesellschaft, HSBC Continental Europe and NatWest Markets N.V.

Tender Agent
Kroll Issuer Services Limited (Telephone: +44 20 7704 0880; Attention: Alessandro Zorza; Email: achmea@is.kroll.com; Website: https://deals.is.kroll.com/achmea).

Achmea prices € 750 million of Tier 2 Notes

Wed, 24 Apr 2024 17:45:00 +0200

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).

Achmea announces intention to issue Green senior bond

Mon, 21 Nov 2022 10:53:05 +0100

Achmea B.V. has mandated ING as Green Bond Structuring Advisor for an intended issuance of a Green €500 million senior unsecured bond. Barclays, HSBC, ING, MUFG, NatWest Markets and Société Générale are appointed as Joint Lead Managers. The bond will be issued under Achmea B.V.’s €5 billion Debt Issuance Programme, dated 21 October 2022.

The expected rating of the forthcoming issuance is BBB+ by S&P and A- by Fitch. The intended issuance is expected in the near future, dependent on market conditions.

The intended issuance is the inaugural issuance under Achmea’s Green Finance Framework (GFF), dated 15 February 2022. The Use of Proceeds of the issuance are intended to (in)directly (re)finance green loans and investments.

Relevant stabilization regulations, including FCA/ ICMA stabilization apply. The target market is MiFID II professionals and Eligible Counterparties only (all distribution channels). No EU/UK PRIIPs key information document (KID) has been prepared as these instruments are not available to retail in the EEA and UK.