HOWOGE Wohnungsbaugesellschaft mit beschränkter Haftung: HOWOGE publishes Social Finance Framework

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HOWOGE publishes Social Finance Framework

Berlin, 17 July 2023. The municipal HOWOGE Wohnungsbaugesellschaft mbH has published a Social Finance Framework for the first time. This framework for social financing instruments has been confirmed in a Second Party Opinion by ISS ESG. It sets out the social criteria for selecting a portfolio for which proceeds from the issue of financing instruments can be used. As Katharina Greis, HOWOGE managing director, explains, “The Social Finance Framework is an important step towards ensuring a diversified and sustainable financing structure. It gives us maximum flexibility in selecting financing instruments in volatile interest rate markets and provides us with the basis for continuing to build affordable housing.”

The key points in the paper are aligned with the requirements of the cooperation agreement with the state of Berlin. These requirements include a maximum rent for new-build apartments a percentage of social housing in new builds and existing portfolio and an average rent for existing residential units below the local comparable rent. If these criteria are met, the proceeds from the issue of financing instruments can be used for new builds, modernisation measures or acquisitions.

The framework is guided by the principles set out in the Social Bond Principles of the International Capital Market Association, and the Social Loan Principles of the Loan Syndications and Trading Association and the Loan Market Association.

For further information, please visit: https://ir.howoge.de.

Social Finance Framework: https://ir.howoge.de/howoge/pdf/de/social_finance_framework_HOWOGE_2023_EN.pdf

Second Party Opinion: https://ir.howoge.de/howoge/pdf/de/second_party_opinion_HOWOGE_2023_EN.pdf

About HOWOGE

HOWOGE Wohnungsbaugesellschaft mbH is one of the six publicly owned housing companies belonging to the State of Berlin. With a housing portfolio of approximately 75,400 apartments (as of 31 December 2022), the company is one of the largest landlords in Germany. In the medium to long term, HOWOGE intends to expand its housing portfolio, particularly through new builds, to around 100,000 apartments. As part of the Berlin school building campaign, HOWOGE is also taking on for the State of Berlin the refurbishment of existing schools and the building of new ones.

“Designing a liveable Berlin of tomorrow – more than just a place to live”

Important notice:

This publication is neither an offer to sell nor a solicitation to buy securities.

To the extent that this announcement contains forward-looking statements, such statements do not represent facts and are characterised by the words “expect”, “believe”, “estimate”, “intend”, “aim”, “assume” or similar expressions. Such statements express the intentions, opinions or current expectations and assumptions of HOWOGE Wohnungsbaugesellschaft mbH and are based on current plans, estimates and forecasts which HOWOGE Wohnungsbaugesellschaft mbH has made to the best of its knowledge, but which do not claim to be correct in the future. Forward-looking statements are subject to risks and uncertainties that are difficult to predict and usually cannot be influenced by HOWOGE Wohnungsbaugesellschaft mbH. It should be kept in mind that the actual events or developments may differ materially from those contained in or expressed by such forward-looking statements.