Debt Investor Relations
Deutsche Pfandbriefbank AG (pbb) raises funds on the capital market via various debt instruments such as Pfandbriefe, unsecured bonds and subordinated capital instruments, as well as through private customer deposits.
Depending on the structure and risk class, issues are also made in denominations of €1,000 with the option of selling them to retail customers. Depending on market conditions (e.g. residual maturity, interest rate level, liquidity of trading in the respective security), pbb may also buy back securities at market prices upon specific request. However, there is no right to a buyback.
Planned capital market activities in 2025
Planned capital market activities in 2025
Mortgage Pfandbriefe are pbb's main refinancing instrument. They are issued in various formats (syndicated benchmarks and private placements as bearer or registered bonds with maturities of up to 30 years) in EUR, USD, GBP and SEK on an ongoing basis.
In line with the maturity profile on the assets side, the issues are planned primarily with maturities between 2028 and 2030. Given the moderate refinancing requirement of around €2 billion in 2025, 2-3 euro benchmarks are planned.
In connection with the reduction of our Non-Core Portfolio, buybacks of public sector Pfandbriefe may be considered, subject to regulatory requirements, pricing and other conditions.
In unsecured refinancing, pbb aims for a balanced relationship between retail deposits and capital market refinancing. The bank is a regular issuer of Green Bonds (based on the pbb Green Bond Framework) and plans at least one senior preferred benchmark issue per year.
