1. February 2024

Berlin Hyp starts funding campaign 2024 with a Green Mortgage Pfandbrief

• 20 Berlin Hyp Green Bonds in benchmark format outstanding
• Green mortgage Pfandbrief was more than 6.0 times oversubscribed
• Granular order book with more than 100 investors

The mortgage Pfandbrief with a term of 3.25 years and a volume of EUR 500 million carries an interest coupon of 2.750% and is rated Aaa by the rating agency Moody's. The yield at Reoffer was 2.795%. The bond is Berlin Hyp's first Green Pfandbrief issuance since May 2023.

Wednesday morning, at around 8.45 a.m. the syndicate banks mandated by Berlin Hyp - Barclays, Commerzbank, Crédit Agricole, LBBW and Nordea - opened the order books for the bond announced in benchmark format at a spread of mid-swap +21 basis points. At the time of the first book update at 9.32 am, orders in the books were worth over EUR 1.5 billion. By the time of book closing at 10.51 a.m., the order book had grown to around EUR 3.2 billion. Final reoffer spread was fixed at mid-swap +14 basis points.

More than 110 investors participated in the Pfandbrief issuance. At 58%, the majority of the bond was placed in Germany. Outside Germany, investors from the Nordics and Austria/Switzerland in particular showed strong interest with 13% and 9% respectively. Banks were the largest investor group with 50%, followed by funds/asset managers (22%) and
central banks/public institutions (20%). Investors with a strong ESG focus accounted for 31% of the issuance. Around 18% of the proceeds were placed within the Savings Banks Finance Group.

"We are very pleased about the great demand for our Green Pfandbrief and the resulting trust in Berlin Hyp. Twenty outstanding Green Bonds in benchmark format are proof of our ESG expertise in the capital markets," says Teresa Dreo-Tempsch, who is a member of the management board of Berlin Hyp and responsible for capital markets.