Hogan Lovells advises on the placement of a Social Housing Bond by Deutsche Kreditbank AG
Frankfurt, 09 February 2023 – Led by partner Dr. Jochen Seitz, the Frankfurt capital markets team of global law firm Hogan Lovells has advised ABN AMRO Bank N.V., Bayerische Landesbank (technical lead), Commerzbank Aktiengesellschaft, Crédit Agricole Corporate and Investmentbank, Norddeutsche Landesbank – Girozentrale – and UniCredit Bank AG on the placement of a Social Housing Bond by Deutsche Kreditbank AG (DKB).
On January 31, 2023, the Social Housing Bond was issued in the form of Mortgage Pfandbriefe with an issue volume of EUR 500 million. The Social Housing Bond has a term of 12 years, an issue price of 99.95 per cent. and a coupon of 3.00 per cent. p.a.
With this Social Housing Bond DKB has already issued its second socially oriented Mortgage Pfandbrief for the refinancing of cooperative housing companies in the financial market. With its sustainably oriented loan portfolio, DKB is helping, among other things, to ensure that cooperative housing companies can continue to invest and that social housing construction in Germany is driven forward. For further information, see the DKB press release.
The transaction marks one of numerous green and social bond transactions on which the team has most recently advised.
Hogan Lovells Team
Dr. Jochen Seitz (Partner), Dr. Stefan Schrewe (Counsel), Kira Kuhnert (Foreign Associate) (all Capital Markets, Frankfurt).