German lender Berlin Hyp has placed its second mortgage bond Pfandbrief of 2014 with the issue of a €750 mln five-year bond at a coupon rate of just 0.625%.
German lender Berlin Hyp has placed its second mortgage bond Pfandbrief of 2014 with the issue of a €750 mln five-year bond at a coupon rate of just 0.625%.
The firm had planned a €500 mln bond, but increased the size to keep up with demand, despite the low coupon rate.
´We are very pleased that our Pfandbrief issue met with such high demand and we particularly welcome the fact that so many German savings banks participated,´ said Berlin Hyp board member Gero Bergmann.
German investors accounted for 90% of the take-up, with German savings banks featuring prominently.
Berlin Hyp also issued a bond of €500 mln in April this year.
