Deutsche Pfandbriefbank - the core bank of the Hypo Real Estate group - placed a EUR 1.5 bn Jumbo mortgage Pfandbrief on Tuesday. The bank said that the Pfandbrief, which marks the group's first public issue for more than a year, was three times over-subscribed.
Deutsche Pfandbriefbank - the core bank of the Hypo Real Estate group - placed a EUR 1.5 bn Jumbo mortgage Pfandbrief on Tuesday. The bank said that the Pfandbrief, which marks the group's first public issue for more than a year, was three times over-subscribed.
Dr Axel Wieandt, CEO of Deutsche Pfandbriefbank, said: 'The successful Jumbo Pfandbrief issue demonstrates that the market accepts Deutsche Pfandbriefbank as an issuer. The group's return to the public funding markets marks yet another milestone in its realignment process.'
The issue was arranged by a syndicate comprising Citibank, Commerzbank, Deutsche Bank, DZ Bank, HSBC and LBBW. At 66 %, Germany accounted for the largest share of placements, followed by Scandinavia (14 %) and Southern Europe (6 %).
