Hogan Lovells Cadwalader advises on banks on Evangelische Bank’s Pfandbrief

Hogan Lovells Cadwalader advised a syndicate of banks on the first placement of a Mortgage Pfandbrief by Evangelische Bank, with an issuance volume of EUR 250 million. The bonds were issued under a newly established programme. The syndicate comprises Commerzbank, DZ Bank AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main (as lead manager), and Norddeutsche Landesbank.

Deal details

The Mortgage Pfandbrief has a six-year term and a coupon of 3.750%. It was admitted to trading on the Euro MTF Market of the Luxembourg Stock Exchange. The Luxembourg Stock Exchange had previously approved the related base prospectus, which covers the issuance of Mortgage Pfandbriefe under a programme with an aggregate principal amount of up to EUR 1 billion.

The issuer

Evangelische Bank is a financial services provider focused on the church, healthcare and social economy sectors. Its core business is financing projects in health, elderly care, youth and disability services, education, affordable housing and private residential construction. It has operated as a Pfandbrief bank since 2022.

Advisers

Hogan Lovells Cadwalader advised the banks on all debt capital markets aspects of the placement. The team was led by partner Jochen Seitz (pictured), with support from counsel Stefan Wollmert-Schrewe and associates Anna Hersener and Melissa Mohr.