German lender Berlin Hyp has issued its fifth Green Bond with a volume of €500 mln to refinance loans for energy efficient buildings.
The newly issued green senior unsecured bond increases the bank's outstanding green bond volume to €2.5 bn.
The 10-year bond carries a coupon of 1.50% and is rated A1 and A+ by Moody's and Fitch.
Berlin Hyp said that it received 66 orders worth well over €500 mln within three hours after opening the order books at 9 am.
The re-offer spread was set at mid-swap +60 basis points.
Savings banks took the largest share of the bond, or 55%. Asset managers and insurance companies participated with 22% and 15% respectively. Some 88% of the bond went to domestic investors, followed by French and UK investors with 5% and 4%.
Berlin Hyp aims to have 20% of its loan portfolio comprising green building financing by 2020.