Deals

Hesse levels up Länder as €1.5bn 10s evince greenium

The State of Hesse on Tuesday printed the largest green bond from a European region, a €1.5bn 10 year that attracted over €6bn of orders and more accounts than on any previous Hessian issue, with the level of demand and greenium of at least 1bp seen as testament to its credentials and efforts.

Featured

Hesse set to sustain Länder leader status in Green Bond III

The State of Hesse has been a frontrunner among sub-sovereign GSS bond issuers, and its planned third green bond promises to be its biggest and broadest yet. Anna Beil, Tanja Czymek and Alexander Labermeier of the Ministry of Finance of the State of Hesse, and Patrick Seifert at joint lead LBBW, spoke to Sustainabonds about the German state’s sustainability achievements and ambitions, and how green bonds complement its wider activities.

Featured

GSS Länder bonds tackle environmental, social missions

A pre-summer bout of green, social and sustainability issuance from Germany’s federal states highlighted their burgeoning activity in the market as well as the environmental and social tasks they face. Representatives of the five Länder to have issued GSS bonds spoke to Sustainabonds’ Neil Day about their rationale for entering the market, what make their frameworks distinctive, and how their issuance is evolving in light of market and regulatory developments.

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.

Featured

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.