German lender Pbb Deutsche Pfandbriefbank has placed a €500 mln five-year benchmark mortgage Pfandbrief with a coupon of 1%.
German lender Pbb Deutsche Pfandbriefbank has placed a €500 mln five-year benchmark mortgage Pfandbrief with a coupon of 1%.
Based on the re-offer price of 99.40% the Pfandbrief has a 1.124% yield.
'The Pfandbrief met with a very positive market response and was heavily oversubscribed with orders totalling more than €1 bn,' the bank said in a statement.
At more than 75%, Germany accounted for the largest share of the placements followed by the Benelux, Denmark and UK.
The issue was arranged by a syndicate comprising Deka Bank, DZ Bank, Natixis, NordLB and Unicredit.
