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Dr. Phil Zundel

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Phone: +49 89 5387 - 319

Dr. Benno-Eide Siebs

Press Officer

Phone: +49 89 5387 - 314

Press Releases

MünchenerHyp provides underwriting of Deutsche Telekom building in Bonn

13.03.2017 - Münchener Hypothekenbank eG has provided underwriting of Deutsche Telekom’s headquarters building in Bonn.

After fully underwriting the loan, MünchenerHyp placed 50 percent of the financing with external investors.

The financed building complex is located in the federal district (Bundesviertel) of Bonn and is fully let to Deutsche Telekom AG. The property has over 81,000 square metres of space and 946 underground parking spaces.

The borrower is a Korean consortium led by Meritz Securities. The consortium founded a property administration company owned by a Korean trust. The firm of King & Wood Mallesons served as legal advisors for the transaction. The buyers were advised by GREA GmbH (German Real Estate Advisors, Frankfurt am Main).

“We are very pleased to have been able to finance this very impressive building complex in a central office location in Bonn that has very good transport links”, said Jan Polland, MünchenerHyp’s head of Direct Customers. “We are particularly proud of the fact that this financing transaction also included  providing advice to an international client and that he trusted us to assume full underwriting responsibility to finance the transaction“, added Dr. Jan Peter Annecke, head of Commercial Property Finance at MünchenerHyp.

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MünchenerHyp finances purchase of 69 Boulevard Haussmann in Paris

27.02.2017 - Münchener Hypothekenbank eG has financed the purchase of an office and commercial building located in the central business district of Paris at 69 Boulevard Haussmann.

The financing has a volume of € 64 million. The building was acquired by Encore+, an open-ended fund managed by Aviva Investors with LaSalle Investment serving as the asset manager.

The property is located on the south side of Boulevard Haussmann, which is known as the best office location in Paris. The building’s approximately 7,400 square meters of office space have been let to four companies with UBS as the anchor tenant.

Encore+ was established in 2006 and is solely focused on institutional investors. The fund’s investment emphasis is on core and core+ properties in Europe and is mainly invested in office, retail and logistics properties. MünchenerHyp has previously provided financing for two Encore+ deals.

“We are very pleased that we again had the opportunity to prove our ability to provide competitive financing in the fiercely contested French market“, said Dr. Jan Peter Annecke, the Head of Commercial Real Estate Finance at MünchenerHyp. “We are particularly pleased that this interesting property attractively located in the heart of Paris allows us to further intensify our business relationships with LaSalle and Aviva Investors“, added Jan Polland, Head of Commercial Real Estate Finance - Direct Clients.

Roberto Carrera, European Head of Financing at LaSalle noted: “My team maintains an ongoing dialogue with leading property lenders in Europe, which enables us to always find the most appropriate financing partner for every property investment. MünchenerHyp’s very attractive financing package put them at the top of our selection process.”

Jeffrey King, Fund Manager of Encore+ at Aviva Investors said: “The income profile and risk characteristics of this asset make it an attractive option for the Fund to secure external debt in its financing structure. We are pleased that in MünchenerHyp we have once again found an outstanding partner for Encore+.”

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MünchenerHyp Receives mtn-i Award for Deal of the Year

14.02.2017 - Münchener Hypothekenbank eG has received the Deal of the Year Award from mtn-i, a well known international data platform for fixed-income securities.

The jury’s decision was based on a Swiss Franc denominated Mortgage Pfandbrief that was issued by MünchenerHyp in the summer of 2016.

MünchenerHyp was the first German bank to issue a Swiss Franc denominated Pfandbrief since 2010. The 2-year Pfandbrief had a volume of 200 million Swiss Franc and a coupon of 0.01 percent. Commerzbank served as lead manager for the issue.

“MünchenerHyp is increasingly active as a property financer in international markets, which is why bonds denominated in foreign currencies are becoming more and more important for us. The award marks the conclusion of a successful year of new issues and a fine confirmation of our refinancing strategy”, said Dr. Louis Hagen, Chairman of the Münchener Hypothekenbank Board of Management.  

About 40 percent of the total volume of covered refinancing securities issued by MünchenerHyp in 2016 were denominated in foreign currencies. Switzerland is an important market for MünchenerHyp due to the Bank’s many years of successful collaboration with the Swiss PostFinance.

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MünchenerHyp increases its results once again

18.10.2016 - Münchener Hypothekenbank eG announced today that its results have risen further.
As of 30 September 2016 the Bank recorded net interest income of € 168.5 million (30 September 2015: € 161.7 million), or 4.2 percent over the same year-ago figure. “We are on track to improve our earnings and see ourselves well positioned to face the growing challenges posed by the market and competition“, said Dr. Louis Hagen, Chief Executive Officer of MünchenerHyp.

MünchenerHyp was able to further expand its new residential property financing business with partner banks within the Cooperative Financial Network as well as with independent providers of financial services. New lending commitments rose by 5 percent to € 2.2 billion (30 September 2015: € 2.1 billion). Successful joint sales activities with the Swiss PostFinance made it possible to significantly reduce the weakness noted in the first half of the year. New lending commitments made to finance commercial property were about € 900 million in comparison to the year-ago figure of about € 1.3 billion). The Bank recorded lower new business results as it remained true to its proven financing principles in a market environment where lenders were willing to accept greater risks and lower margins. MünchenerHyp posted total new business results of € 3.4 billion on 30 September 2016 (30 September 2015: € 3.7 billion).

The risk situation in the Bank’s lending business remained at a stable level as results from ordinary business operations increased by € 9 million to € 45.5 million. After deduction of taxes the Bank’s net income for the year improved by € 5.3 million on a pro rata temporis basis to € 27.1 million.

Total assets rose over the course of the year by about € 1 billion to € 39.1 billion as MünchenerHyp expanded its portfolio of mortgage loans by € 1.5 billion to € 27.2 billion. In line with its business strategy the Bank further reduced its portfolio in the capital markets business.

MünchenerHyp was able to continue obtaining refinancing at good conditions. The volume of refinancing resources noted on 30 September 2016 amounted to € 33.1 billion (31 December 2015: € 32.1 billion).

MünchenerHyp’s level of equity capital remains very solid. As on 30 September 2016 the Bank’s Tier 1 capital ratio was 19.0 percent and its common equity Tier 1 capital ratio was also 19.0 percent, while its total capital ratio stood at 20.7 percent.

MünchenerHyp expects that it will be able to continue its favourable development into the final quarter of the year and that its net income for the year will be moderately higher than the same year-ago figure.

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MünchenerHyp: Successful development further consolidated in first half of 2016

25.08.2016 - Münchener Hypothekenbank eG further strengthened its earnings power in the first half of 2016. Following the record results posted in 2015 the figure for net interest income and net commission income rose by 3 percent during the first six months of the year to € 75 million (2015: € 72.9 million).
“The first half of 2016 confirmed the sustainability of our business strategy in a market environment that is becoming increasingly competitive”, said Dr. Louis Hagen, the Chairman of Münchener Hypothekenbank’s Board of Management.

This is reflected by the € 2.3 billion in new lending commitments made by MünchenerHyp in the first half, which again reached the high level recorded in the previous year (2015: € 2.4 billion). The Bank also posted gains in its business with partner banks within the Cooperative Financial Network and with independent providers of financial services. The volume of private property loans brokered via this channels rose by 5 percent to over € 1.5 billion. Property financing deals brokered by the Swiss PostFinance declined as demand for property and property loans weakened in Switzerland. MünchenerHyp’s lending commitments made in its commercial property financing business – including financing for housing companies – amounted to over € 500 million and remained at the previous year’s level. Dr. Louis Hagen further noted: “We are satisfied with the development of our new business results. It shows that it is possible to be successful with conservative financing principles in today’s market situation that is characterised by a greater willingness to take on risk.”

MünchenerHyp was again able to obtain refinancing at good and stable conditions from the capital markets. By the end of July the Bank had issued two large-volume benchmark Mortgage Pfandbriefe, each of which met with heavy demand. The first issue was a 10-year Mortgage Pfandbrief with a volume of € 500 million and was placed in April. This issue was notable as it was priced at the highest risk discount in this maturity segment up to its date of issue. A few months later the Bank was able to tap this Mortgage Pfandbrief by an additional € 250 million to € 750 million at even better conditions. This successful issue was followed up in July with a 3-year Mortgage Pfandbrief issue with a volume of USD 600 million which generated a very favourable international response.

The risk situation in our property finance business remained stable as provisions made for risk were at a low level. Results from normal business operations after making provisions for risk rose by € 3.6 million to € 27.1 million. After deductions for tax expenses, MünchenerHyp recorded a pro rata temporis net income for the period of € 14.6 million (2015: € 13.7 million).

Total assets recorded on 30 June 2016 amounted to € 38.7 billion following € 38.1 billion posted at the end of 2015. During the same time period the value of the Bank’s portfolio of mortgage loans rose by € 0.9 billion to € 26.5 billion. In line with MünchenerHyp’s business strategy, the portfolio of securities stemming from capital market transactions declined by about € 0.7 billion since the start of 2016 to € 7.6 billion.

On 30 June 2016 MünchenerHyp’s common equity Tier 1 capital ratio was 17.6 percent (31 December 2015: 17.3 percent). The Tier 1 capital ratio was 17.6 percent (31 December 2015: 19.5 percent) and the total capital ratio was 19.5 percent (31 December 2015: 24.2 percent). The decline in the Tier 1 capital ratio and the total capital ratio was due to the repayment of a silent participation and the elimination of the members’ liability on shares in the MünchenerHyp. Per the terms of regulatory requirements both of these equity capital items could only be counted as own funds for a limited transition period.

MünchenerHyp foresees that it will continue its favourable development in the second half of the year. “We want to further expand our new business and are confident that we will achieve our goals for 2016”, said Dr. Louis Hagen.

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