ING Diba Issues 5-Year Green Jumbo Mortgage Pfandbrief
In the last week of August, ING Diba AG issued a 5-year green Mortgage Pfandbrief with a volume of 1 billion EUR. The issue carries a coupon of 3.25%. The order book reached 2.4 billion EUR, and the bond was priced at m/s +16bp.
Christian Walburg
Association of German Pfandbrief Banks
What was the key factor in your decision to issue this bond as a green Mortgage Pfandbrief rather than a traditional one?
Dieter Schreiner
ING
Two factors were particularly decisive for issuing a Green Pfandbrief: First, we have a large portfolio of qualifying green real estate financings; second, we are seeing sustained investor interest in this market segment. Against this backdrop, we placed our second Pfandbrief issuance of 2026 as a Green Pfandbrief.
Christian Walburg
Association of German Pfandbrief Banks
You were already involved in ING-DiBa’s first Green Pfandbrief back in 2021. From your perspective, what has changed in the market since then—and, above all, in terms of the economic significance of this format for treasury management?
Dieter Schreiner
ING
When we issued our first Green Pfandbrief in 2021, our primary focus was on establishing a new sustainable refinancing instrument. Today, the market has evolved significantly: sustainability criteria have become an integral part of the investment process for many investors, and the Green Pfandbrief market has established itself accordingly. At the same time, its economic significance has grown, because Green Pfandbriefe are no longer just an ESG signal for treasury and funding, but also a key component in diversifying our investor base and supporting our bank’s long-term ESG strategy. For us, the Green Pfandbrief has thus evolved from an innovation into a strategically relevant refinancing instrument.
Christian Walburg
Association of German Pfandbrief Banks
Where do you see the Green Pfandbrief in five years: Could there come a time when the distinction between “green” and “conventional” Pfandbriefe loses its significance?
Dieter Schreiner
ING
I believe that this distinction will become less prominent in the future because sustainability is increasingly becoming the norm. However, the need for transparency and clear labeling of sustainable financing will remain. That is why, in my view, both Green and traditional Pfandbriefe will continue to have their place even five years from now.