Hogan Lovells advises banks on the placement of the world's first Blue Social Bond

Led by Frankfurt partner Jochen Seitz, Hogan Lovells has advised Bayerische Landesbank as arranger, ABN AMRO Bank N.V., DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main, NATIXIS and UniCredit Bank AG in the legal documentation of the world's first placement of a Blue Social Bond of Deutsche Kreditbank Aktiengesellschaft (DKB).

The Blue Social Bond, which was oversubscribed four times, was issued by DKB on the basis of its social bond framework. It will serve the refinancing of the municipal water supply and sanitation business in Germany. The Blue Social Bond has a nominal value of EUR 500 million, a term of ten years and an interest coupon of 0.01 per cent. The low interest rate is due to the structure as a Public Sector Pfandbrief, which is covered by a "Blue" loan pool of EUR 1.3 billion from the Social Bond Program of the Deutsche Kreditbank AG.

62 per cent. of the Bond with the identification number DE000SCB0021 was subscribed in Germany and 38 per cent. by foreign investors.

Hogan Lovells team for the financial institutions

Dr. Jochen Seitz (Partner), Dr. Stefan Schrewe, Julius Henneberg (Associates), Nina Fischer (Business Lawyer) (all International Debt Capital Markets, Frankfurt)


Back To Listing

Loading data