Today saw Deutsche Hypothekenbank successfully issue a five-year mortgage Pfandbrief in benchmark format with a volume of EUR 500 million. The collateral pool includes mortgage loans to commercial real estate clients predominantly based in Germany, the UK, the USA, the Netherlands, France and Spain.<\/p>\n
The bond comes with a coupon of 1.25 percent. The issue rate lay at 99.357 percent, equating to a spread of 9 basis points to mid-swap and a spread of 89 basis points to the comparable federal bond. This spread lay at the lower end of the targeted range and reflects the solid \u2013 above all domestic \u2013 demand for quality investments such as the German Pfandbrief. The banks accompanying the transaction were NORD\/LB, Bayern LB, Barclays, Commerzbank and Deutsche Bank. This was Deutsche Hypo’s first benchmark issue in 2012.<\/p>\n
More than 60 purchase orders with a total volume of over EUR 800 million were placed within two hours after the order book was opened. “We are pleased that our issue attracted such strong demand. This underlines Deutsche Hypo’s excellent standing in the capital market and shows that we are\u00a0able to sell our Pfandbriefe at attractive conditions even without an Aaa rating”, emphasized Dr. J\u00fcrgen Allerkamp, Chairman of the Board of Managing Directors of Deutsche Hypo.<\/p>\n
Demand for the mortgage Pfandbrief was particularly strong on the domestic and in the German-speaking area, with around 86 percent of the orders coming from Germany. The investors include banks, Sparkasse savings banks, asset managers and central banks. The international investors involved are from Switzerland, the UK, Austria and Italy. “Investors value the German Pfandbrief more than ever as an anchor of stability in difficult times”, commented Dirk Sch\u00f6nfeld, Head of Treasury at Deutsche Hypo.<\/p>\n
As a mortgage credit bank with 140 years of tradition behind it, Deutsche Hypo is among the highly regarded issuers in the market. Following an amount of EUR 5 billion in 2011, the Bank is planning a refinancing volume of around EUR 4.2 billion this year. Besides Pfandbriefe, Deutsche Hypo also issues unsecured bearer and registered bonds.<\/p>\n
The benchmark issue’s key data at a glance<\/b><\/p>\n
Issuer: Deutsche Hypothekenbank (Actien-Gesellschaft)<\/p>\n
Format:\u00a0Mortgage Pfandbrief<\/p>\n
ISIN:\u00a0DE000DHY3566<\/p>\n
Maturity date:\u00a020 June 2017<\/p>\n
Volume:\u00a0EUR 500 million<\/p>\n
Spread:\u00a0Mid-swap rate plus 9 basis points<\/p>\n
Coupon:\u00a01.25%<\/p>\n
Rating:\u00a0Aa2 (Moody\u2019s)<\/p>\n
Listing:\u00a0Hanover<\/p>","protected":false},"excerpt":{"rendered":"
Today saw Deutsche Hypothekenbank successfully issue a five-year mortgage Pfandbrief […]<\/p>\n","protected":false},"author":1,"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-743","post","type-post","status-publish","format-standard","hentry","category-news-en"],"acf":[],"yoast_head":"\n