Yesterday Deutsche Hypo successfully issued a five-year Mortgage Pfandbrief in benchmark format; this is the debut in terms of large issues this year. The volume amounted to EUR 500 million. The cover pool consists of mortgage loans to commercial real estate clients with a focus on Germany, UK, the Netherlands and France.<\/p>\n
The Pfandbrief has been issued with a coupon of 0.625 percent and the issue price was 99.917 percent which corresponds to a spread of +1 basis point over mid swap and a spread of 33 basis points to the comparable federal bond. Thus, the spread was at the lower end of the guidance. Deka Bank, DZ Bank, HSBC, the NORD\/LB and UniCredit have accompanied the transaction as a consortium of banks. In addition to a great demand in the domestic market and Austria of 73.2 % the Mortgage Pfandbrief was also especially sold abroad. The foreign orders came from Northern Europe, Switzerland, and Italy, as well as from Asia. The investors were banks, saving banks, asset managers and central banks.<\/p>\n
After the Initial Price Talk, a very constructive orientation period of about one hour, the order book was opened for about 30 minutes. There were more than 70 orders with a total volume of more than EUR 1.4 billion. Despite historically low yields and a not so straightforward geopolitical context, the issue met a very strong demand and generated a very granular order book. ”We were able to take advantage of the positive momentum in the capital markets,” said Andreas Pohl, Speaker of the Board of Managing Directors of Deutsche Hypo. ”The order book proves once again that the issues of Deutsche Hypo are considered as a quality investment and therefore meet high demand.”<\/p>\n
Thanks to its more than 140 years of experience as a Pfandbriefbank, Deutsche Hypo is a renowned issuer in the market. In 2013 the funding volume amounted to EUR 3.3 billion. For 2014, a comparable size is planned. In addition to Pfandbriefe Deutsche Hypo also issues unsecured bearer and registered bonds.<\/p>\n
Benchmark issue key figures<\/b><\/p>\n
Issuer:\u00a0\u00a0\u00a0 \u00a0\u00a0 Deutsche Hypothekenbank (Actien-Gesellschaft)<\/p>\n
Format:\u00a0\u00a0\u00a0 \u00a0 Mortgage Pfandbrief<\/p>\n
ISIN:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0DE000DHY4382<\/p>\n
Maturity:\u00a0\u00a0 \u00a029 July 2019<\/p>\n
Volume:\u00a0\u00a0\u00a0\u00a0 EUR 500 million<\/p>\n
Spread:\u00a0\u00a0\u00a0\u00a0 mid swap plus 1 basis point<\/p>\n
Coupon:\u00a0\u00a0\u00a0 0.625%<\/p>\n
Rating:\u00a0\u00a0\u00a0\u00a0 \u00a0Aa2 (Moody’s)<\/p>\n
Stock exchange: Hanover<\/p>","protected":false},"excerpt":{"rendered":"
Yesterday Deutsche Hypo successfully issued a five-year Mortgage Pfandbrief in […]<\/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-785","post","type-post","status-publish","format-standard","hentry","category-news-en"],"acf":[],"yoast_head":"\n