News

Achmea issues € 300 million Restricted Tier 1 Securities

Tue, 21 Jan 2025 18:54:30 +0100

Achmea has today successfully priced € 300 million of perpetual Restricted Tier 1 securities (Securities), callable after 10 years on 28 January 2035 (subject to redemption conditions).

The Securities were priced with a coupon of 6.125% until the first reset date on 28 July 2035, which represents a credit spread of 373.5 bps over the interpolated 10.5-year Euro mid-swap rate.

The transaction was extremely well received, with a final book of >€ 5 billion from over 330 global fixed income investors, representing an oversubscription of 16.6 times, which allowed the final pricing to be reduced by 62.5 bps from the Initial Pricing Thoughts.

The Securities are expected to be rated BB+ by S&P and BBB by Fitch. Achmea has submitted an application to Euronext Dublin for the Securities to be admitted to the Official List and trading on the Global Exchange Market which is the exchange regulated market of Euronext Dublin on or around 28 January 2025.

The Securities have been placed by HSBC Continental Europe as Sole Global Coordinator and ABN AMRO Bank N.V., Banco Bilbao Vizcaya Argentaria S.A., Barclays Bank Ireland PLC, BNP Paribas, Deutsche Bank Aktiengesellschaft and HSBC Continental Europe, who acted as Joint Bookrunners on the transaction. The Offering Memorandum will be published on or around 24 January 2025 at www.achmea.nl/en/investors/debtinformation

Achmea announces intention to issue Restricted Tier 1 Securities

Mon, 20 Jan 2025 11:00:00 +0100

Achmea B.V. has mandated ABN AMRO Bank N.V., Banco Bilbao Vizcaya Argentaria S.A., Barclays Bank Ireland PLC, BNP Paribas, Deutsche Bank Aktiengesellschaft and HSBC Continental Europe, as Joint Bookrunners for an intended issuance of € 300 million perpetual non-call 10yr Restricted Tier 1 securities (Securities), subject to market conditions.

The expected ratings of the forthcoming Securities are BB+ by S&P and BBB by Fitch. The intended issuance is expected in the near future, dependent on market conditions.

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. The Securities should not be offered or sold to retail clients (as defined in COBS 3.4) in the UK.

Not for release, publication or distribution in or into or to any person located or resident in the United States of America, its territories and possessions, any state of the United States of America or the district of Columbia (the United States) or in or into any other jurisdiction or to any other person where or to whom it is unlawful to release, publish or distribute this announcement (see "offer and distribution restrictions" below)