Hogan Lovells advises banks on the placement of a Euro 250 million Mortgage Pfandbrief issued by Landesbank Berlin AG
Led by Frankfurt partner Dr Jochen Seitz, global law firm Hogan Lovells advised a banking syndicate consisting of ABN AMRO Bank N.V., DekaBank Deutsche Girozentrale, Erste Group Bank AG and Norddeutsche Landesbank - Girozentrale - (Lead Manager) on the placement of a Mortgage Pfandbrief of Landesbank Berlin AG with an issue volume of EUR 250 million.
The Mortgage Pfandbrief with a term of 10 years and an interest rate of 3.000 percent was successfully placed on 17 April 2024 and admitted to trading on the open market of the Berlin Stock Exchange.
Landesbank Berlin AG is the owner of Berliner Sparkasse and is considered as a separate savings bank association in accordance with the Berlin Savings Banks Act. The focus of its business activities as a modern universal bank is on business with private and corporate customers as well as regional commercial property financing. Landesbank Berlin AG uses the issue of Pfandbriefe in particular to refinance its lending business.
The transaction is the first issue of Pfandbriefe of Landesbank Berlin AG the Hogan Lovells team has advised on.
Hogan Lovells for the banks
Dr. Jochen Seitz (Partner), Dr. Stefan Schrewe (Counsel), Anna Hersener (Associate), Fabian Jacksch (Associate) (all Capital Markets).
