Muhyp to issue first ethical Pfandbrief

By Bill Thornhill
11 Sep 2014

Germany is once again leading the way in covered bond innovation. After issuing the first SME backed deal and the first Pfandbrief backed by aircraft loans, Münchener Hypothekenbank (Muhyp) this week announced the first Pfandbrief backed by environmental and social governance (ESG) mortgage loans.

Despite the innovative nature of the transaction, the issuer was keen to emphasise that the expected deal will be a legally compliant Hypothekenpfandbrief — a mortgage Pfandbrief. 

“This is issued under our existing EMTN programme, under German law, but it is designed to attract ESG investors,” said Rafael Scholz, ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial