On June 23, 2021, the Green Subordinated Bond was issued with an issue volume of EUR 500 Million. The notes have a term of 10.25 years and carry an initial Fixed Rate of Interest of 1.00 percent p.a. Investors have a call right and the interest rate will be reset after a term of five years. This is the first bond issued by Bayerische Landesbank as a Green Subordinated Bond which qualifies as Tier 2 capital.
The proceeds of the Green Subordinated Bond are to be used for the advance of loans to the Issuer’s customers for the purpose of financing or refinancing by such customers of assets, projects, investments, expenditures or activities with a positive „green“, social or other sustainability impact in accordance with the Issuer’s Sustainable Financing Framework.
Dr. Jochen Seitz´s and his team provided legal advice to Bayerische Landesbank for the first time this year on the update of its EUR 60,000,000 Debt Issuance Programme. The team has advised on a number of green and ESG Bonds previously.
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