{"id":7110,"date":"2016-07-15T15:02:30","date_gmt":"2016-07-15T13:02:30","guid":{"rendered":"http:\/\/deutschehypo.code-in-progress.de\/en\/?p=7110"},"modified":"2016-07-18T16:00:31","modified_gmt":"2016-07-18T14:00:31","slug":"five-times-oversubscribed-deutsche-hypo-successfully-taps-benchmark-issue","status":"publish","type":"post","link":"https:\/\/www.deutsche-hypo.de\/en\/news-en\/five-times-oversubscribed-deutsche-hypo-successfully-taps-benchmark-issue","title":{"rendered":"Five times oversubscribed: Deutsche Hypo successfully taps benchmark issue"},"content":{"rendered":"

First increase of a benchmark Pfandbrief with a negative yield<\/h3>\n

Today, Deutsche Hypothekenbank successfully tapped a 6 \u00bd year Mortgage Pfandbrief in benchmark format by 250 million Euros. With a volume of now 750 million Euro the Pfandbrief offers a significantly higher market liquidity. The reoffer price of 102,161% means a spread of minus 7 basis points to mid swap. The yield is -0,0771%. This is not only the first benchmark increase with a negative yield, but also the longest benchmark Pfandbrief surfacing with negative yield in the market.<\/p>\n

The demand for the Pfandbrief was enormous: 45 minutes after opening the order book more than 50 orders were received with a volume of approximately 1.300 million Euro. The issue was five times oversubscribed. The investors were mainly banks, Landesbanks, Central banks and asset managers. The orders came from Germany and Europe. The tap was accompanied by a bank syndicate of BayernLB, Cr\u00e9dit Agricole CIB, DZ Bank, HSBC and NORD\/LB.<\/p>\n

\u201cThe tap of the Pfandbrief perfectly fits into our successful issuing activities this year\u201d, emphasises Andreas Pohl, chairman of the Board of Managing Directors. \u201cThanks to the competitive conditions of today\u2019s transaction we ensure our strong market position in the commercial real-estate financing. It is possible that this transaction opens the window for new issues of Pfandbriefe with negative yield in the medium term marketsegment.\u201d<\/p>\n

Deutsche Hypo, a nearly 145-year-old Pfandbrief bank, is a renowned issuer in the market. For the total year 2016 a refinancing volume of around 5.000 million is planned. Deutsche Hypo issues Pfandbriefe as well as unsecured bearer and registered bonds.<\/p>\n

Benchmark issue key figures<\/strong><\/p>\n

Issuer:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Deutsche Hypothekenbank (Actien-Gesellschaft)<\/p>\n

Format:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Mortgage Pfandbrief<\/p>\n

ISIN:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0DE000DHY4614<\/p>\n

Maturity:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a022 February 2023<\/p>\n

Volume:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 EUR 750 million<\/p>\n

Spread:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 mid swap plus 1 basis point\u00a0\/ mid swap minus 7 basis points<\/p>\n

Coupon:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a00.25%<\/p>\n

Rating:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Aa1 (Moody\u2019s)<\/p>\n

Stock exchange: Hanover<\/p>","protected":false},"excerpt":{"rendered":"

First increase of a benchmark Pfandbrief with a negative yield […]<\/p>\n","protected":false},"author":34,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_oasis_is_in_workflow":0,"_oasis_original":0,"_oasis_task_priority":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-7110","post","type-post","status-publish","format-standard","hentry","category-news-en"],"acf":[],"yoast_head":"\nFive times oversubscribed: Deutsche Hypo successfully taps benchmark issue - Deutsche Hypo<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.deutsche-hypo.de\/en\/news-en\/five-times-oversubscribed-deutsche-hypo-successfully-taps-benchmark-issue\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Five times oversubscribed: Deutsche Hypo successfully taps benchmark issue - 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