Deals

Berlin Hyp completes perfect ESG hat-trick with social debut

Berlin Hyp became the first European bank to have issued in green, social and sustainability-linked formats with the launch of a €750m 10 year mortgage Pfandbrief on Tuesday supporting affordable housing, and the bank plans to be a similarly familiar face in the social market as it is in green bonds.

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Sustainability-linked bond reinforces Berlin Hyp agenda

Berlin Hyp became the first bank to issue a sustainability-linked bond (SLB) on Tuesday, 13 April, with a €500m 10 year senior preferred deal. Bodo Winkler-Viti, Berlin Hyp’s head of funding and investor relations, discussed with Sustainabonds’ Neil Day the pioneering first issue, the rationale for adopting the new instrument and the bank’s choice of metrics, and how SLBs fit in with its green bond issuance.

Deals

Pioneering Berlin Hyp €500m 10s set tight SLB benchmark

Berlin Hyp became the first bank to sell a sustainability-linked bond (SLB) yesterday (Tuesday), issuing a €500m 10 year senior preferred bond with a coupon step-up should it not hit a carbon reduction target, in a “courageous” move that met with dedicated investor interest and achieved tight pricing.

Deals

Berlin Hyp 10 hits high in wake of new green ambitions

Berlin Hyp achieved the highest bid-to-cover ratio of any German Pfandbrief this year on Tuesday when it reopened the post-summer covered bond market with its 10th benchmark green bond, a €500m 10 year deal launched in the wake of “ambitious” new sustainability targets, and followed it up with a Swiss franc debut on Thursday.

Deals

New green high for Berlin Hyp at 2019 covered bond tight

Berlin Hyp sold over half a EUR500m eight year green Pfandbrief to investors classified as green at the tightest spread of any euro benchmark covered bond this year on Wednesday, in what head of funding and IR Bodo Winkler hailed as an amazing result, even if yield moves made pricing “a little bizarre”.

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Supporting the transition

Overall ESG strategies are as important to investors as the specifics of green bonds, as they seek to avoid green-washing and encourage brown issuers to make the transition to sustainability.