Haspa: Green Pfandbrief debut

The bond was very well received by investors. After a 1.5-day marketing phase, we opened the order book for the seven-year Green Mortgage Pfandbrief at MS+27bp on Tuesday morning. The deal size was set at €500 million WNG in advance. The target volume was reached after just a few minutes. At its peak, demand exceeded €2.1 billion. This allowed us to reduce the spread by 7bp to MS+20bp. Most investors remained in the book, resulting in final oversubscription of 3.5x. We are delighted to have attracted a total of 80 investors from Germany and abroad. The green label gave the issue additional momentum, as the last green covered euro issue dated back around four months. According to the syndicate banks, approximately 45 percent of the bond was placed with investors with a green ESG label.

As a regional bank, we have close ties with the Hamburg metropolitan region and are therefore equally concerned with regional social and climate-related challenges. Accordingly, we want to take a holistic view of these issues also on the funding side and give investors the opportunity to support us in financing social and sustainable projects.

Haspa will be active in the capital market on a regular basis with benchmark issues. Our frameworks allow us to issue both Mortgage and Public Pfandbriefe as well as unsecured bonds in green and social formats. The actual requirements for 2026 will depend on the development of our lending business.