pbb Deutsche Pfandbriefbank successfully placed its first Green Bond as Senior Preferred Benchmark with a volume of €500 million on the capital markets.
The Bond has a coupon of 0.10 percent and a maturity of 5 years. The issue was very well received by the steadily growing number of sustainability investors, the order book amounted to €1.3 billion from around 150 investors. With a share slightly above 50 percent, the bond was also very well accepted by international investors.
pbb´s Green Bond Framework, on which the issue is based, follows the ICMA Green Bond Principles and focuses primarily on properties with low energy consumption. Properties are selected by a Green Bond Committee the members of which decide whether to include the loans in the reference portfolio, inclusion requires a unanimous decision.
By issuing Green Bonds, pbb enables investors to focus on investments in sustainable capital market products. At the same time, pbb expands its investor base with a wider product range.
Barclays, DekaBank, DZ BANK and UBS, as well as Crédit Agricole, accompanied the issue.
Faced with the persistent weakness in the commercial real estate market, Deutsche Pfandbriefbank AG (“pbb”) has significantly increased its risk provisioning. The risk provision result for the first nine...