pbb Deutsche Pfandbriefbank has placed a €500 mln mortgage pfandbrief covered bond.
pbb Deutsche Pfandbriefbank has placed a €500 mln mortgage pfandbrief covered bond.
The German financier said it received about 50 orders for the mortgage bond, 75% of which came from Germany.
Investment funds accounted for just over half of the placements.
The 4-year mortgage Pfandbrief has a 0.875% coupon. Based on the re-offer price of 99.785, the Pfandbrief has an approximate 0.93% yield.
This the bank's second bond placement this year. On 17 January the bank issued a € 500 mln senior unsecured benchmark bond.
