Funding
Maturity matched new business
For Helaba, the maturity matched refinancing of new business continues to be of high priority. The qualified management of structural liquidity gains through the outstanding regulatory changes, even more in significance. The rating agencies also attach more importance to this issue.
Positioning with investors – domestic basis, selective expansion internationally
The Helaba Group has a broad and stable base of both institutional and retail investors in the domestic market. The soundness of this investor base is being increasingly recognized by foreign investors, enabling Helaba to further diversify its refinancing activities abroad.
Debt issuance programmes – developing products and structuring capabilities
Helaba aims at securing a continuously available, effective and cost-efficient refinancing. Therefore, Helaba is focused upon further developing its product range and structuring capabilities. As funding instruments, unsecured bearer bonds, promissory notes and public sector and mortgage backed covered bonds in both bearer and registered format, are issued domestically and as MTNs.
Covered Bonds
Helaba funds itself in the medium and long term essentially through the issuance of Pfandbriefe.
Bearer Format
Registered Format
Security
Pfandbrief Rating – Recognition of exceptional credit-worthiness
The high standards of security are mirrored in specifically accredited Pfandbrief ratings, which are awarded complement to Helaba’s own ratings.
Special Features
All of Helaba’s Pfandbriefe qualify as “gilt-edged securities” as defined in § 1807 of the German Civil Code (“mündelsicher gemäß § 1807 BGB”) and also qualify as “collateral” pursuant to § 54 of the German insurance supervisory law (“gemäß § 54 Abs. 3 VAG i.V.m. § 2 Abs. 1 Nr. 6 der AnlV”).
In addition, Helaba Pfandbriefe are normally listed on the Frankfurt Stock Exchange and as such qualify as Category 3 Eligible Assets for the European Central Bank.
Cover Register Reports
Voluntary Commitment
Pfandbrief Rating
There are specifically accredited public sector covered bond ratings complementing Helaba's own ratings
Green Bonds
We have made sustainable action the core of our strategy and consistently align our business activities accordingly. Helaba's Green Bonds support these sustainability aspects and complete our refinancing strategy. This gives investors the opportunity to participate in Helaba's sustainability.
Green BondsGreen Bonds
Sustainable issuance of Helaba – three questions to Helaba experts Dirk Mewesen and Petra Sandner
Structured Products
Products are made available in various forms and structures to suit individual investor requirements:
- Fixed or Floating Rate Notes (FRNs)
- Reverse FRNs
- Leveraged FRNs
- Fixed-to-floating rate bonds (fixed to variable interest)
- Single and multi callable or puttable bonds (with and without interest rate step-up)
- Autocallable
- Zero coupons (single, multi callable)
- CMS/CMS spread
- TARNs
- Range Accrual (interest rate or interest spread basis)
- Digital/Flip-Flop (interest rate or interest spread basis)
- Inflation-linked
- Equity-linked convertible bonds (reverse convertibles)
- Equity and index-linked participations
If requested, suitable structures can be augmented with imbedded options such as: caps, floors, collars, calls, puts, switch, etc.
Debt Issuance Programmes
Halaba has various debt issuance programmes securing adequate access to the national and international funding markets. In general investors will use thereby our basis prospectus (replacement of the former frequent issuer status “Daueremittentenstatus”). International enquiries are normally served through the € 35 bn Euro Debt Issuance Programme (EMTN Programme).
EMTN and ECP Programmes
ECPs and CDs are issued through Helaba’s money market trading operations in Frankfurt and London using the € 10 bn ECP/ECD Programme. Furthermore Helaba issues CDs through a French € 6 bn „NEU CD” Programme.
In addition to the short term funding programmes in Europe our New York branch has a $ 5 bn USCP Programme available.
Furthermore, the branch offices in London and New York issue domestic CDs in line with the provisions of the respective regulatory authorities.