Hogan Lovells Advises Banks on Placement of Germany's First EU Green Bond

Hogan Lovells advised a syndicate of banks—ABN AMRO Bank N.V., Bayerische Landesbank (Lead Manager), Commerzbank Aktiengesellschaft, NatWest Markets N.V., Norddeutsche Landesbank - Girozentrale - and Société Générale—on the placement of Deutsche Kreditbank AG (DKB)'s first EU Green Bond. The transaction comprised the issuance on 12 November 2025 of Senior Preferred Notes with an issuance volume of EUR 500 million. The notes were issued both as an EU Green Bond in accordance with Regulation (EU) 2023/2631 (EU Green Bond Standard) and as a Green Bond under the ICMA Green Bond Principles. The EU Green Bond has a term of 5.25 years, an issue price of 99.533 per cent and an interest coupon of 2.875 percent per annum. Pursuant to a portfolio approach, the proceeds will be used to refinance loans for the construction and operation of wind and solar power plants in Germany, including non-financial assets, capital expenditures (CapEx) and operating expenditures (OpEx). The intended environmental objective in accordance with the Taxonomy Regulation is climate protection. DKB published the factsheet required by the EU Green Bond Standard and subjected it to a pre-issuance review by an external reviewer; the factsheet details the selection and evaluation of environmentally sustainable economic activities and the taxonomy-aligned use of proceeds. Detailed information on allocation and impact will be published after issuance in the allocation and impact report for EU Green Bonds. Hogan Lovells had also previously advised on the update of DKB’s first base prospectus approved by the German Federal Financial Supervisory Authority (BaFin) for the issuance of EU Green Bonds in accordance with the EU Green Bond Standard. Hogan Lovells represented the syndicate of banks—ABN AMRO Bank N.V., Bayerische Landesbank (Lead Manager), Commerzbank Aktiengesellschaft, NatWest Markets N.V., Norddeutsche Landesbank - Girozentrale - and Société Générale—with a team composed by: Dr. Jochen Seitz (Partner), Dr. Stefan Wollmert-Schrewe (Counsel), Anna Hersener (Associate) and Lena Markert (Associate), all Capital Markets, Frankfurt.

Hogan Lovells Advises Banks on Placement of Germany's First EU Green Bond

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