Hogan Lovells advises banks on the placement of the debut issuance of a Green Mortgage Pfandbrief of Wüstenrot Bausparkasse Aktiengesellschaft

Press releases | 12 December 2023

The Frankfurt capital markets team led by partner Dr. Jochen Seitz, has advised DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main (Lead Manager), Commerzbank Aktiengesellschaft, Deutsche Bank Aktiengesellschaft, Landesbank Hessen-Thüringen Girozentrale and UniCredit Bank AG on the placement of a Green Mortgage Pfandbrief of Wüstenrot Bausparkasse Aktiengesellschaft with an issue volume of EUR 500 million.

The Green Mortgage Pfandbrief with a term of 5 years and an interest rate of 3.375 percent was successfully placed on 28 November 2023 and admitted to trading on the regulated market of the Baden-Württemberg Stock Exchange in Stuttgart. The proceeds from the Green Mortgage Pfandbrief will be used by the issuer to fully or partially finance or refinance eligible green assets. Eligible green assets are future or existing loans or investments that meet sustainable criteria in the residential real estate sector, for example: an A+, A or B class energy certificate, energy consumption below 74kWh/m²a or an energy standard in accordance with EnEV 2009 (Energy Saving Ordinance – Energieeinsparverordnung) that is among the top 15% of the local market. This is the first Green Mortgage Pfandbrief issued by Wüstenrot Bausparkasse Aktiengesellschaft.

The transaction is one of numerous green and social bond transactions that the Hogan Lovells team regularly advises on.

Press release Wüstenrot Bausparkasse Aktiengesellschaft

Hogan Lovells Team:

Dr. Jochen Seitz (Partner), Dr. Stefan Schrewe (Counsel), Anna Hersener (Associate) (all Capital Markets).