"We want to make Hamburg's buses and trains climate-neutral by 2030 and continue to massively advance the mobility transition. We need plenty of investments for both," said Anjes Tjarks, Senator for Transport and Mobility Transition and Chairman of the Supervisory Board of Hochbahn. The EUR 500 million raised will "flow exclusively towards 'green' projects, such as 50 new DT5 trains, 160 modern e-buses or the overhaul of the U3", he added.
The green bond has met with great interest and is more than six times oversubscribed, according to Hochbahn. The ten-year bond has an interest rate of 0.23 per cent. "As part of the coalition agreement, we agreed to leverage new potentials with sustainable funding and to show new ways of financing our city's future projects," said Andreas Dressel, Senator for Finance. The green bond is proving a huge success for Hamburg two years after the Hamburgische Investitions- und Förderbank (IFB Hamburg) issued EUR 250 million in social bonds, said Dressel, and stressed: "While others are still talking about sustainability in finance, we are putting it into practice in a very concrete way."