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State of Hesse restructures capital of Landesbank Hessen-Thüringen Girozentrale (Helaba)

August 2024

Client(s) State of Hesse

Jones Day advised the State of Hesse in connection with a change in the composition of the capital structure of Landesbank Hessen-Thüringen Girozentrale (Helaba), strengthening the equity capital of the bank. Due to regulatory requirements enforced by the European Banking Authority, Helaba's equity capital has been restructured by the State of Hesse, contributing €1.5 billion to Helaba's equity and subscribing to a €500 million additional tier-1 bond. In parallel, Helaba transferred to the State of Hesse a multi-billion Euro portfolio of promotional assets, including housing and construction loans and municipal financings. Helaba is one of the leading German commercial banking groups and acts as the central clearing institution and service provider for almost half of the German savings banks.

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