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Hogan Lovells advises ProCredit Holding AG on inaugural placement of EUR 150 million AT1 bond
Press releases
| 02
June
2026
Global law firm Hogan Lovells advised ProCredit Holding AG on the placement of EUR 150 million perpetual non-cumulative fixed to reset rate Additional Tier 1 Notes. Sole Global Coordinator and Sole Bookrunner was Goldman Sachs Bank Europe SE.
On 29 May 2026, the bond was successfully placed and listed on the Euro MTF of the Luxembourg Stock Exchange. The bond has a perpetual term and a coupon of initially 8.000 percent that is adjusted by way of a reset mechanism on the first reset date set for 3 December 2031. The applicable interest rate will be reset at five-year intervals starting on 3 December 2031 on the basis of the then prevailing 5-year Euro swap rate plus the initial credit spread of 5.195%. Fitch assigned a B- rating. The AT1 bond serves to strengthen ProCredit Group's capital structure. This constitutes the first issuance of Additional Tier 1 (AT1) capital instruments of ProCredit Holding AG.
ProCredit Holding AG press release:
The Hogan Lovells team was led by partner Dr. Jochen Seitz with support from of counsel Dr. Susanne Ries, counsel Dr. Stefan Wollmert-Schrewe, associate Anna Hersener (all Debt Capital Markets, Frankfurt/Berlin), partner Dr. Heiko Gemmel and senior associate Vanessa Rinus (both Tax, Dusseldorf).
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