Hogan Lovells advised on the issuance of a EUR 500 Million Green Mortgage Pfandbrief by BayernLB

Press releases | 31 October 2022

The Frankfurt capital markets team led by partner Jochen Seitz advised Bayerische Landesbank (lead manager), Banco Santander, S.A., Erste Group Bank AG, NATIXIS, Société Générale, Belfius Bank SA/NV and RAIFFEISENLANDESBANK NIEDERÖSTERREICH-WIEN AG on the issuance of a Green Mortgage Pfandbrief by Bayerische Landesbank.

On October 17, 2022, the Green Mortgage Pfandbrief was issued with an issue volume of EUR 500 million. The notes have a term of 5 years with a fixed rate of 3.125 percent p.a.

For the first time, an additional real estate portfolio in compliance with the ICMA Green Bond Principles has been utilized for the issuance. The notes enjoyed a high level of demand and were oversubscribed almost 5 times. In addition to placements with institutional investors in Germany, a significant portion was also placed with international investors, despite very tight pricing. Overall, well over 50 per cent of investors had an ESG background. For further information, please see the BayernLB press release (see below).

The transaction is one of numerous green bond transactions on which the team has most recently advised.

Hogan Lovells Team

Dr Jochen Seitz (Partner), Dr Stefan Schrewe (Senior Associate), Kira Kuhnert (Associate) (all Capital Markets, Frankfurt)

Press release BayernLB

BayernLB begibt 5-jährigen grünen Hypothekenpfandbrief mit einem Volumen von 500 Mio. Euro

Links to other green bond transactions

Hogan Lovells advises banks on the placement of the world's first Green Covered Bond under a legal framework

Hogan Lovells advises banks on the placement of the first green bonds of Eurogrid GmbH

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