Hogan Lovells advised on the issuance of a Social Housing Bond by Deutsche Kreditbank AG
The Frankfurt capital markets team at global law firm Hogan Lovells, led by partner Dr. Jochen Seitz, has provided counsel to a group of financial institutions including ABN AMRO Bank N.V., Bayerische Landesbank, Commerzbank Aktiengesellschaft, Crédit Agricole Corporate and Investmentbank, Norddeutsche Landesbank – Girozentrale, and UniCredit Bank AG, on the issuance 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.
The issuance of this Social Housing Bond marks Deutsche Kreditbank AG's (DKB) second socially focused Mortgage Pfandbrief aimed at financing cooperative housing companies in the financial market.
With its sustainable loan portfolio, DKB is contributing to the continued investment of cooperative housing companies and advancing social housing construction in Germany.
The transaction marks one of numerous green and social bond transactions on which the team has most recently advised.
The Hogan Lovells team comprised Dr. Jochen Seitz (Partner), Dr. Stefan Schrewe (Counsel), and Kira Kuhnert (Foreign Associate) (all Capital Markets, Frankfurt).