i

News-Archive

For further DG HYP-News please click here:

News- Archive

News

12.05.2016

DG HYP places second benchmark Mortgage Pfandbrief in 2016

Most highly oversubscribed ten-year Pfandbrief year-to-date in 2016

2016 DG HYP has successfully issued its second Mortgage Pfandbrief in 2016. Taking the opportunity offered by a constructive market environment, DG HYP sold the €500 million, 0.375 per cent bond – the tightest priced and most oversubscribed Pfandbrief in the ten-year segment so far this year.

Managed by a syndicate comprising Commerzbank, Crédit Agricole, DZ BANK, NORD/LB, WGZ BANK as well as Bankhaus Lampe (Co-Lead), the order book was opened on Wednesday (11 May 2016) at 9 am local time, with spread guidance at mid-swaps flat. Thanks to steady demand, the book increased swiftly, allowing the issue spread to be fixed at mid-swaps minus 2 basis points after just 50 minutes. The well-diversified order book comprised 53 individual orders with an aggregate volume of €1.1 billion.

The final allocation showed a majority of investors coming from Germany (60.8 per cent), followed by investors from Scandinavia (12.2 per cent), Asia (8.0 per cent), Austria/Switzerland (5.8 per cent), other European countries and the Middle East. Banks were the largest investor group, accounting for 45.6 per cent of the order book, followed by central banks/agencies (30 per cent). Asset managers (19.0 per cent) and insurance companies (5.4 per cent) were also involved.