HYPO NOE Landesbank is one of Austria’s leading covered bond issuers and is a regular participant on the capital markets through the placement of secured and unsecured benchmark bonds. The Bank’s sustainable approach to its core operations is underpinned and promoted by its clear ethical principles and business policies. Its portfolio leans strongly towards sustainability due to the large proportion of lending that creates social value added. Based on the solid foundations provided by customer deposits, and on its closer cooperation with development banks, HYPO NOE Landesbank also takes steps aimed at diversifying its sources of refinancing.
HYPO NOE Landesbank is rated by Standard & Poor's (Issuer Credit Rating) and Moody's (Covered Bonds). In the area of sustainability, the Bank has ratings from ISS ESG, Sustainalytics, Vigeo Eiris and imug. Further information can be found under Ratings.
Cover Pool Reporting
HYPO NOE Landesbank Pfandbriefe are eligible as trust investments under section 217 (3) Austrian General Civil Code. HYPO NOE Landesbank is liable for all assets, and for all the assets recorded in the cover register. The trustee appointed by the financial regulator monitors compliance with the relevant statutory regulations.
Transparency: The reports on the HYPO NOE Landesbank public and mortgage covered bond programme shows the quality of the public sector cover pool. The reporting follows the reporting rules by the Pfandbrief & Covered Bonds Forum Austria.
Green / Social / Sustainable Bonds
Clear ethical guidelines and business principles ensure and actively promote sustainable behaviour in HYPO NOE's core business. Accordingly, HYPO NOE's portfolio is strongly characterised by sustainability, with a high proportion of financing with added social value. ISS ESG prime status underlines HYPO NOE's commitment to environmental and social issues. In line with its sustainability strategy, HYPO NOE Landesbank has been issuing green bonds with a focus on green real estate since 2020. These are particularly energy-efficient buildings that make a valuable contribution to the creation of sustainable living space.
In the new HYPO NOE Sustainability Bond Framework (valid for issues after 19 December 2023), the green financing categories have been expanded to include social (access to infrastructure in the areas of education/health and affordable housing). At the same time, the green financing categories were adapted to the current ICMA Principles.
The HYPO NOE Green Bond Framework (2020) remains valid for the green bonds already placed.