Noerr advises ING-DiBa AG on benchmark mortgage bond issue worth €750 million

Noerr has advised ING-DiBa AG with a team led by Julian Schulze De la Cruz and Dominik Kloka on the successful issuance of secured, fixed-rate covered bonds with a volume of €750 million.

The covered bonds, with a term of ten years and a coupon of 3.125% p.a., were issued under the existing Euro Medium Term Notes Program (EMTN) (“Program"), which allows for a total volume of up to €20 billion. The transaction represents ING-DiBa AG's first benchmark covered bond issue since 2024 and was accompanied by Danske Bank, DZ BANK, Erste Group Bank, ING, LBBW, Natixis, and UniCredit Bank GmbH as joint bookrunners.

Noerr had already advised ING-DiBa AG on its issue of covered bonds under the program with a total volume of €1 billion in September 2024.

Advisors to ING-DiBa AG: Noerr Partnerschaftsgesellschaft mbB

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

Capital markets law

Thomas Thies (Senior Associate), Sarah Müller, Philipp Roese (both Associates, all Frankfurt)

Financial regulatory law

Jens H. Kunz (Partner, Frankfurt)

Tax law

Martin Haisch (Partner, Frankfurt)

Inhouse ING-DiBa AG

Anna K. Blum (Legal Counsel)