Led by Frankfurt partner Jochen Seitz Hogan Lovells has advised Citigroup Global Markets Limited, Commerzbank Aktiengesellschaft (Technical Lead), DekaBank Deutsche Girozentrale, Deutsche Bank Aktiengesellschaft, Erste Group Bank AG and Bankhaus Lampe KG on the placement of mortgage bonds of Deutsche Pfandbriefbank AG with a total volume of EUR 500m.
Shortly before, Hypo Real Estate Holding GmbH announced, that they had disposed 16.5 % of the issuer’s shares. Thus, the Federal Republic of Germany, who after the IPO of Deutsche Pfandbriefbank AG in July 2015, indirectly held 20 % of the issuer’s shares via the Financial Market Stabilization Fund and the Hypo Real Estate Holding GmbH, now still holds 3.5 % of the issuer’s shares. A respective supplement to the base prospectus of Deutsche Pfandbriefbank AG was published on 17 May 2018.
As a specialized bank on real estate and public investment financing, bonds are the most important refinancing instrument of the Deutsche Pfandbriefbank AG, which deals in mortgage and public bonds. With an outstanding volume of approximately EUR 30 bn Deutsche Pfandbriefbank AG is one of the leading issuers of covered bonds in Europe.
“We are very happy we could advise the bank consortium on the issuance of the mortgage bonds and the publication of the respective supplement”, said Jochen Seitz.
Seitz and his team have been supervising the issuance program of the Deutsche Pfandbriefbank AG arranged by Commerzbank as Dealer Counsel for many years. Hogan Lovells had last updated the related base prospectus in a joint team corporation with several offices in April 2018.
Hogan Lovells for the bank consortium
Dr. Jochen Seitz (Partner), Dr. Sven Brandt (Partner), Sarah Frank (Senior Associate), Stefan Schrewe, Frank Salzgeber, Carolin Siekmann (Associates, Capital Markets).
Dr. Heiko Gemmel (Partner), Nico Neukam (Senior Associate, Tax).
Gerard Neiens (Partner), Guillaume Cecchi (Associate, Tax).
Igor Montejo (Partner, Tax);
Miguel Garcia Stuyck (Counsel, Capital Markets).
Philip Harle (Partner), Benjamin Twidle (Associate, Tax).
Annalisa Feliciani (Counsel, Capital Markets);
Maria Cristina Conte (Senior Associate, Tax).
The original press release can be found here on Hogan Lovells’ website.