German lender Berlin Hyp has issued its fifth Green Bond with a volume of €500 mln to refinance loans for energy efficient buildings.

euro houses in hands rs

Euro Houses in Hands Rs

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.