Berlin Hyp draws blueprint for bank SLBs

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By Tyler Davies
13 Apr 2021

Berlin Hyp has this week become the first financial institution to issue a sustainability-linked bond. Market participants were divided over whether the structure helped the issuer to achieve better deal terms, but the innovative trade will give other banks an important example to follow.

Berlin Hyp (Aa2/—/AA-) announced plans to issue an SLB last Friday, when it selected Commerzbank, Crédit Agricole, DZ Bank, HSBC and LBBW as its joint lead managers.

It was the first time a bank had set out an approach the asset class, which has been growing in ...

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