ING-DiBa AG.’s €1.5 billion dual tranche Mortgage Covered Bond Offering

White & Case LLP has advised the underwriters on a €1.5 billion dual tranche Mortgage Covered Bond (Pfandbrief) issued by ING-DiBa AG.

The underwriter group includes Bayerische Landesbank, BNP Paribas, Dekabank Deutsche Girozentrale, DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main, ING Bank N.V., Norddeutsche Landesbank – Girozentrale, Swedbank AB (Publ) and Unicredit Bank AG

With a principal amount of €1 billion, the first tranche has a term of five years (2023) and a fixed coupon of 0.250%. With a principal amount of €500 million, the second tranche has a term of 15 years (2033) and a fixed coupon of 1.250%. The Mortgage Pfandbriefe will be admitted to trading on the regulated market of the Frankfurt Stock Exchange.

The White & Case team in Frankfurt which advised on the transaction was led by partner Karsten Wöckener (Picture) and included partner Rebecca Emory, local partner Cristina Freudenberger and associate Florian Fraunhofer.

 

Involved fees earner: Karsten Wöckener – White & Case; Rebecca Emory – White & Case; Cristina Freudenberger – White & Case; Florian Fraunhofer – White & Case;

Law Firms: White & Case;

Clients: BayernLB – Bayerische Landesbank; BNP Paribas; ING Bank; UniCredit Bank AG; DekaBank; Dz Bank; NordLB; Swedbank;