Chicago, Aug. 17 – Landesbank Hessen-Thueringen Girozentrale (Helaba) priced a €650 million offering of green senior non-preferred notes with a five-year tenor (A2//A+) in the Wednesday market, according to a Europe-based sellside source.
The notes priced with a 2.625% coupon at 99.792 to yield 2.67%, or at a spread of 100 basis points over mid-swaps.
Bookrunners for the Regulation S notes are Credit Agricole CIB, Citigroup, DZ Bank, Helaba, ING and Societe Generale.
Credit Agricole handled billing and delivery.
Books went over €1 billion.
Listing will be on the Luxembourg and Frankfurt exchanges.
Based in Frankfurt, Helaba is a commercial bank.
| Issuer: | Landesbank Hessen-Thueringen Girozentrale
|
| Amount: | €650 million
|
| Issue: | Green senior non-preferred notes
|
| Maturity: | Aug. 24, 2027
|
| Bookrunners: | Credit Agricole CIB (billing and delivery), Citigroup, DZ Bank, Helaba, ING and Societe Generale (dealer manager)
|
| Green assessors: | Sustainalytics, ISS-EGG
|
| Trustee: | Citibank Europe plc as fiscal agent
|
| Counsel to issuer: | In-house
|
| Counsel to underwriters: | White & Case LLP
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| Coupon: | 2.625%
|
| Price: | 99.792
|
| Yield: | 2.67%
|
| Spread: | Mid-swaps plus 100 bps
|
| Trade date: | Aug. 17
|
| Settlement date: | Aug. 24
|
| Ratings: | Moody’s: A2
|
| Fitch: A+
|
| Distribution: | Regulation S
|
| ISIN: | XS2525157470
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