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).

News

Achmea announces maximum acceptance amount of its Offer

Achmea prices € 750 million of Tier 2 Notes