Press release

MünchenerHyp issues its first green senior non-preferred bond in benchmark format


Münchener Hypothekenbank eG (MünchenerHyp) has very successfully issued a green senior non-preferred bond with a volume of €500 million. This was an inaugural issue for the bank in two respects. It is its first green bond in this product category. It is also the first time it has issued a senior non-preferred bond in benchmark format.

With this issue, we are once again demonstrating our expertise in sustainable refinancing products, which are increasingly in demand from investors," said Dr. Louis Hagen, Chairman of MünchenerHyp's Board of Management.

The bond has a term of eight years. The coupon is 0.375 percent. The issue was made at a price of 57 basis points over swap midpoints. A total of 117 orders were placed. The largest investor groups were banks with 45 percent, followed by asset managers with 38 percent and insurers and central banks. Moody's is expected to assign a rating of A2. 

The bond also attracted very strong interest from MünchenerHyp's partners in the Cooperative Financial Network. "In addition, the benchmark format enabled us to attract new investors from Germany and abroad for this product," said Rafael Scholz, Head of Treasury at MünchenerHyp. 

The transaction has been lead managed by a banking syndicate comprising BayernLB, Crédit Agricole, DZ Bank, NatWest Markets and UniCredit.