Deutsche Bank cements role as a sustainable Trust and Agency services provider, supports €1 billion Covid-19 bond
Aligned with Deutsche Bank’s sustainable finance strategy and to facilitate the raising of finance to meet sustainable targets, Trust & Agency Services (TAS) has supported the issuance of the first Covid-19 social bond by a European public financial institution. TAS is providing issuer paying agent and common depositary services to the €1 billion bond issued by Banco Bilbao Vizcaya Argentaria SA (BBVA). Proceeds from the issuance will be primarily allocated to mitigating the severe economic and social impact caused by the Covid-19 pandemic
Deutsche Bank also served as underwriter on the bond, together with BBVA, Natixis, Nomura, Société Générale and Unicredit. The bond was launched under BBVA’s framework for green, social and sustainable issues, published in April 2018. This includes a pledge to mobilize €100 billion between 2018 and 2025 to fight climate change and promote sustainable development.
Jason Connery, Head of Trust & Agency Services EMEA, said: “ESG is a strategic priority for Deutsche Bank. We are delighted to assist BBVA with their inaugural COVID-19 social bond in Europe”
Gerald Podobnik, CFO of Deutsche Corporate Bank, added: “I am proud that our Trust & Agency segment plays a growing role in capital markets agency solutions for green, social and sustainable bonds. It showcases the holistic, multi-product approach of Deutsche Bank towards ESG.”