- Issue volume of 500 million euros with a term of 3.75 years
- Coupon of 2.5 per cent
- Funds will be used to finance energy-efficient buildings
NORD/LB Norddeutsche Landesbank today placed its second Green Pfandbrief and its fifth benchmark issuance in the 2024 financial year. The EUR 500 million mortgage Pfandbrief with a coupon of 2.5 per cent has a term of 3.75 years and is expected to receive a Moody's rating of Aaa. With a denomination of € 1,000, the Pfandbrief is also suitable for retail investors.
The final order book counted more than 50 individual orders totalling more than 850 million euros. The bond was placed primarily with German and Austrian investors (66 per cent). Further demand came from Central Eastern Europe (10 per cent) as well as South and Western Europe (10 per cent), the UK and Ireland (8 per cent), and the Nordics
(6 per cent).
The funds raised through the bond are used exclusively for environmentally sustainable financing. All funds are dedicated to finance energy-efficient buildings, so-called Green Buildings. A reporting is published at least once a year, in which the allocation of proceeds and the estimated climate impact are reported.
This is NORD/LB's sixth Green Pfandbrief, after the bank made its debut in this product category in 2017. The bond meets the criteria of the "Green Pfandbrief" brand, the Association of German Pfandbrief Banks (vdp) and the Green Bond Principles of the International Capital Market Association (ICMA).
About NORD/LB
NORD/LB Norddeutsche Landesbank is one of Germany's leading commercial banks. As an institute under public law, it is part of the S-Finance Group. Its core business segments include corporate customers, special financing in the energy and infrastructure sectors, financing commercial real estate via Deutsche Hypo, capital market business, association business with the savings banks and private and commercial customers including private banking. The bank is based in Hanover, Braunschweig and Magdeburg and has branches in Oldenburg, Hamburg, Schwerin, Düsseldorf and Munich. Outside Germany NORD/LB is represented by a Pfandbrief bank (NORD/LB Covered Bond Bank) in Luxembourg and by branches in London, New York and Singapore.
