On 29 May 2026, the bond was successfully placed and listed on the Euro MTF of the Luxembourg Stock Exchange. The bond has a perpetual term and a coupon of initially 8.000 percent that is adjusted by way of a reset mechanism on the first reset date set for 3 December 2031. The applicable interest rate will be reset at five-year intervals starting on 3 December 2031 on the basis of the then prevailing 5-year Euro swap rate plus the initial credit spread of 5.195%. Fitch assigned a B- rating. The AT1 bond serves to strengthen ProCredit Group's capital structure. This constitutes the first issuance of Additional Tier 1 (AT1) capital instruments of ProCredit Holding AG.

ProCredit Holding AG press release:

https://www.procredit-holding.com/2026/05/29/procredit-holding-ag-successfully-completes-eur-150-million-inaugural-at1-issuance/?noredirect=en_US  

The Hogan Lovells team was led by partner Dr. Jochen Seitz with support from of counsel Dr. Susanne Ries, counsel Dr. Stefan Wollmert-Schrewe, associate Anna Hersener (all Debt Capital Markets, Frankfurt/Berlin), partner Dr. Heiko Gemmel and senior associate Vanessa Rinus (both Tax, Dusseldorf).