Dentons advises on Achmea B.V.’s tender offer and linked new issue of perpetual subordinated securities

London—Dentons has advised the joint global coordinators and the joint bookrunners on the issue by Achmea B.V. of €300 million Perpetual Restricted Tier 1 Temporary Write-Down Securities and tender offer to the holders of its €250 million 2.500% Subordinated Notes due 2039 and €750 million 5.625% Subordinated Notes due 2044.

Achmea group is a major Dutch cooperative financial services group offering life, health and non-life insurance as well as pensions, mortgages, savings and asset management services. With around 18,000 full-time employees, it serves more than 10 million customers in the Netherlands and beyond, and is headquartered in Zeist, the Netherlands.

Dentons London-based Capital Markets partner, Neil Dixon, said: “We are proud to have supported on this significant dual transaction. We are pleased that Achmea achieved such a fantastic result.”

The Dentons team was led by Neil Dixon, assisted by associates Miriam Babarinde and Nia Powell and trainee Tiara Mistry, and supported by partner Victoria Wyer. Dutch law advice was provided by partners Marcel Janssen and Joost Elsenburg, senior associate Shivaughn Tets, and associates Daan Overwater and Stephanie Leenaars in Amsterdam.

Allen Overy Shearman Sterling LLP (AOS) acted as legal advisers to Achmea B.V.. The Amsterdam based AOS team was led by partner Jonathan Heeringa and supported by senior associate Sophia Evenhuis and transaction executive Victoria Schepers.