Covered Bond

Achmea Bank set up a EUR 10 billion covered bond financing programme in 2007. The Achmea Covered Bond Company (“ACBC”), a bankruptcy remote special purpose vehicle, provides the covered bond investors a guarantee for full payment of interest and principal on the outstanding bonds under the programme by pledging the mortgage receivables of the Bank to the ACBC and a parallel debt agreement with the Security Trustee. For investors there is a so-called ‘double recourse’ which means that in the event of default of the Bank an investor has recourse on the bank and on the underlying mortgage portfolio.
 
ACBC's management board is formed by Intertrust Management B.V.. The management of the Stichting Trustee Achmea Covered Bond Company is formed by SSG Trust & Corporate Services N.V..
The outstanding amount of the pledged mortgage receivables will at all times be at least 33% higher than the outstanding amount of the bonds issued under the programme. The programme is not registered with the Dutch Central Bank (DNB).
 
The Bloomberg ticker for the bond outstanding under the covered bond programme is ACHMEA <CORP>.

 

 Offering circularOffering circular

 Investor report (July 2017)

 Asset cover test (July 2017)

 Notice to investors (29 april 2014)


Other programs

 French Commercial Paper Programme

 Secured Debt Issuance ProgrammeOverig