Pbb Deutsche Pfandbriefbank is the first German bank to launch a programme for senior unsecured issues denominated in Japanese yen on the Tokyo Stock Exchange's Pro-Bond market segment.
Pbb Deutsche Pfandbriefbank is the first German bank to launch a programme for senior unsecured issues denominated in Japanese yen on the Tokyo Stock Exchange's Pro-Bond market segment.
The move is aimed at broadening the German lender's investor base in Asia. The programme was admitted to the Tokyo Pro-Bond Market on June 27, 2014. Depending on the market environment, Pbb plans to issue the first bond in the third quarter of 2014.
Wolfgang Groth, who heads up the bank's treasury operations, said: 'As we are already present with our Pfandbrief issues in Asia, we want to broaden our investor base on the Asian market. For yen-denominated issues, the TSE's market segment with its orientation towards Japanese professional investors offers a great opportunity.'
With an outstanding volume of about €38.5 bn, Pbb is the second-largest Pfandbrief issuer. In 2013, Pfandbriefe worth €4.5 bn were issued, with an additional €3.2 bn in unsecured refinancing.
The bank's debt capital investors are currently located primarily in Germany and other European countries. At present, Pbb issues bonds mainly denominated in euros as well as pound sterling and Swedish krona.
