Noerr advises ING-DiBa on the issuance of Pfandbriefe with a volume of EUR 1.0 billion

With a team led by Frankfurt partners Dr Julian Schulze De la Cruz and Dr Dominik Kloka, Noerr has advised ING-DiBa AG ("ING-DiBa") on the update of its Euro Medium Term Notes (EMTN) programme ("Programme") with a total volume of up to EUR 20 billion and the issue of unsecured, fixed-rate Pfandbriefe with a volume of EUR 1.0 billion.

The Programme serves the long-term financing of ING-DiBa on the capital market. It offers the opportunity to place bonds and Pfandbriefe in different currencies and with different maturities on the debt capital market in a standardised form. The base prospectus for the Programme was approved by the Luxembourg supervisory authority (Commission de Surveillance du Secteur Financier, CSSF) on 13 May 2024. ING-DiBa has applied to the Luxembourg Stock Exchange for admission of the securities issued under the Programme to listing on the official list of the Luxembourg Stock Exchange and to trading on the regulated market of the Luxembourg Stock Exchange and for admission to trading on the regulated market of the Frankfurt Stock Exchange.

On September 9, 2024, ING-DiBa issued Pfandbriefe with a total volume of EUR 1.0 billion for the first time under the updated Programme. The Pfandbriefe have a term of five years and a coupon of 2.750% p.a. The transaction was accompanied by Barclays, Commerzbank, DekaBank, Helaba, ING and LBBW as joint bookrunners.

Advisors to ING-DiBa AG: Noerr Partnerschaftsgesellschaft mbB

Dr Julian Schulze De la Cruz, Dr Dominik Kloka (both lead, Partner, Capital Markets, Frankfurt)

Capital markets law

Dr Thomas Thies, Jens M. Göb (both senior associates, Frankfurt)

Financial regulatory law

Dr Jens H. Kunz (Partner, Frankfurt)

Tax law

Dr Martin Haisch (Partner, Frankfurt)

Inhouse ING-DiBa AG

Anna K. Blum (Legal Counsel)