Today Deutsche Hypothekenbank tapped its five-year mortgage Pfandbrief, which was issued on 12 June 2012 with a volume of EUR 500 million by EUR 250 million. The issue price of this tap is 101.005%, which means a spread of four basis points over mid swap – i.e. five basis points below the original issue.<\/p>\n
The order book was closed after 30 minutes with over 30 – some of them very large – orders. The issue was thus three times oversubscribed. Particularly Savings banks, Landesbanks and Central banks as well as German insurers were in the order book. The investor group also included international investors from Asia, the UK and continental Europe.<\/p>\n
NORD\/LB, BayernLB, Barclays, Deutsche Bank and Commerzbank are all members of the syndicate that supported both the original issue and its increase.<\/p>\n
“We tapped the issue in response to the current solid demand for high-quality investments. The large momentum of today’s order book – reflected in the spread-narrowing from nine basis points in the original transaction to four – underlines the attractiveness of Deutsche Hypo Pfandbriefe. We are pleased to have successfully placed our issue in the market despite the summer holiday period,” explained Thomas Stephan B\u00fcrkle, CEO of Deutsche Hypo.<\/p>\n
Deutsche Hypo, a 140-year-old Pfandbrief bank, is one of the renowned issuers in the market. The bank plans a refinancing volume of around EUR 4.2 billion this year compared to approximately EUR 5 billion in 2011. Deutsche Hypo issues Pfandbriefe as well as unsecured bearer and registered bonds.<\/p>\n
<\/p>\n
Benchmark issue key figures <\/b><\/p>\n
Issuer: Deutsche Hypothekenbank (Actien-Gesellschaft)<\/p>\n
Format: Mortgage Pfandbrief<\/p>\n
ISIN: DE000DHY3566<\/p>\n
Due on: 20 June 2017<\/p>\n
Volume: EUR 750 million (original transaction: EUR 500 million, tap: EUR 250 million)<\/p>\n
Spread: Original transaction: Mid swap plus nine basis points \/ tap:\u00a0plus four basis points<\/p>\n
Coupon: 1.25%<\/p>\n
Rating: Aa2 (Moody’s)<\/p>\n
Stock exchange: Hanover<\/p>","protected":false},"excerpt":{"rendered":"
Today Deutsche Hypothekenbank tapped its five-year mortgage Pfandbrief, which was […]<\/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-747","post","type-post","status-publish","format-standard","hentry","category-news-en"],"acf":[],"yoast_head":"\n