Hogan Lovells advised on the first issuance of a Green Bond by Deutsche Pfandbriefbank AG

On February 1, 2021, the Green Bond was issued in the form of senior preferred notes with an issue volume of EUR 500 Million. The notes have a term of five years and carry a coupon of 0.10 percent p.a. The bond is Deutsche Pfandbriefbank AG´s first bond issued as a Green Bond under its Green Bond Framework. With the debut Green Bond issuance Deutsche Pfandbriefbank joined an increasing number of issuers of green bonds for which record volumes are expected in 2021. 

The Green Bond Framework is based on the ICMA Green Bond Principles and takes into account the recommendations of the Technical Expert Group on Sustainable Finance. The issue proceeds from the Green Bond will be used primarily to finance real estate with low energy consumption. The properties are selected by a Green Bond Committee, whose members decide on the inclusion of the credits in the reference portfolio. The Green Bond issuance was well received by almost 150 investors with an order volume of EUR 1.3 billion.

Jochen Seitz´s and his team have been dealer counsel in relation to Deutsche Pfandbriefbank AG`s debt issuance program for many years. The team has advised on a number of previous green and ESG bonds issuances.

Hogan Lovells Team for the banks

Dr. Jochen Seitz (Partner), Dr. Stefan Schrewe (Associate), Nina Fischer (Business Lawyer) (all capital markets law)

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