Hogan Lovells advises on Nord/LB green Pfandbrief
Hogan Lovells has advised a banking syndicate on the placement of a EUR 750 million Green Mortgage Pfandbrief issued by Norddeutsche Landesbank (Nord/LB), admitted to trading on the regulated market of the Hanover Stock Exchange. The instrument carries a coupon of 3.000 percent and has a term of three years.
The syndicate comprised Landesbank Baden-Württemberg, Landesbank Hessen-Thüringen Girozentrale, Natixis, Norddeutsche Landesbank Girozentrale (lead arranger) and RBC Capital Markets (Europe) as Joint Lead Managers, with Hypo Noe Landesbank für Niederösterreich und Wien and La Banque Postale acting as Co-Lead Managers.
Green framework and use of proceeds
The Pfandbrief was issued in accordance with Nord/LB’s Green Funding Framework of January 2025, which follows the ICMA Green Bond Principles and the vdp minimum standards for Green Covered Bonds. Net proceeds will be allocated, in full or in part, to finance or refinance new and/or existing green assets, loans and investments in the Green Buildings category, as defined in the framework.
The Hogan Lovells team
The Hogan Lovells team was led by partner Jochen Seitz (pictured), supported by counsel Stefan Wollmert-Schrewe and associate Anna Hersener, all from the debt capital markets practice in Frankfurt.
