Led by Partner Jochen Seitz the Frankfurt capital markets team of the international law firm Hogan Lovells advised ABN AMRO Bank N.V, Banco Santander S.A., Natixis S.A., NatWest Markets N.V., Norddeutsche Landesbank – Girozentrale – (NORD/LB) and UniCredit Bank AG on the first issuance of a Green Bond by NORD/LB.
On September 23, 2021, the Green Bond was issued with an issue volume of EUR 500 Million in the form of a green mortgage bond. The green mortgage bond has a term of five years and carries a fixed rate of interest of 0.01 percent p.a. This is the first bond issued as a green mortgage bond by NORD/LB under its Green Bond Framework. Furthermore, this is the first benchmark issue after the integration of its subsidiary Deutsche Hypothekenbank on July 1, 2021.
The NORD/LB’s Green Bond Framework is based on the ICMA Green Bond Principles. The proceeds of the Green Bond are to be used for the issuance of loans for the purchase, new construction or refurbishment of so-called “Green Buildings”, which are characteristically highly energy-efficient and serve as collateral for the loans.
Jochen Seitz and his team have been advising NORD/LB on capital markets transactions for many years. The team has also advised on a number of previous green and ESG bonds issuances (see ‘Read more’).
Hogan Lovells team for the banks
Dr. Jochen Seitz (Partner), Dr. Frank Salzgeber, Dr. Stefan Schrewe (Associates), Jordan Anderson (Research Assistant)
NORD/LB Inhouse Team: Michael Wulf, Matthias Pusch
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