By Rebecca Melvin
Concord, N.H., March 30 – Deutsche Wohnen SE priced €1 billion of green bonds (A-) in two equal-sized tranches of 10 years and 20 years, according to a market source.
The €500 million tranche of 0.5% notes due April 7, 2031 priced at 98.6 to yield 0.645% or a spread over mid-swaps of 60 basis points. The notes have a make-whole call at Bunds plus 15 bps and a three-month par call.
The €500 million tranche of 1.3% notes due April 7, 2041 priced at 97.838 to yield 1.425% or a spread over mid-swaps of 98 bps. The notes have a make-whole call at Bunds plus 25 bps and a three-month par call.
Deutsche Bank and UBS were joint global coordinators and joint bookrunners of the Regulation S transaction, and they were joined by additional bookrunners: BNP Paribas, Goldman Sachs Bank Europe SE, JPMorgan and UniCredit.
Deutsche Wohnen is a residential property company with offices in Frankfurt and Berlin.
| Issuer: | Deutsche Wohnen SE
|
| Issue: | Green bonds
|
| Amount: | €1 billion
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| Bookrunners: | Deutsche Bank, UBS, BNP Paribas, Goldman Sachs Bank Europe SE, JPMorgan and UniCredit
|
| Issue date: | March 30
|
| Settlement date: | April 7
|
| Distribution: | Regulation S
|
| Rating: | S&P’s: A-
|
|
|
| 2031 notes
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| Amount: | €500 million
|
| Maturity: | April 7, 2031
|
| Coupon: | 0.5%
|
| Price: | 98.6
|
| Yield: | 0.645%
|
| Spread: | Mid-swaps plus 60 bps
|
| Calls: | MWC at Bunds plus 15 bps, then three-month par call
|
|
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| 2041 notes
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| Amount: | €500 million
|
| Maturity: | April 7, 2041
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| Coupon: | 1.3%
|
| Price: | 97.838
|
| Yield: | 1.425%
|
| Spread: | Mid-swaps plus 98 bps
|
| Calls: | MWC at Bunds plus 25 bps, then three-month par call
|
|
|
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