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03.09.2015

Mortgage Pfandbrief issue placed successfully

In a very lively market environment, on 2 September 2015 DG HYP successfully placed a 3-year, € 500 million benchmark Mortgage Pfandbrief issue with a 0.025% coupon.

The transaction, which was managed by a syndicate of banks comprising DZ BANK, WGZ, Commerzbank, LBBW and Natixis, attracted significant investor interest: the final order book comprised 48 individual orders with an aggregate volume of € 1.2 billion.

As expected, German investors accounted for the lion's share of orders (76 per cent). On top of this, investors from Scandinavia (7.7 per cent), Switzerland (5.7 per cent), France (3.8 per cent) and Austria (2.7 per cent) showed particular interest. With 43.7 per cent, banks generated most of the demand, followed by central banks (27.8 per cent), investment funds (20.5 per cent) and corporates (6.5 per cent).