pbb enjoys a successful start to 2017 issuance

  • €500 million Mortgage Pfandbrief placed

Munich, 1 February 2017 – pbb Deutsche Pfandbriefbank successfully placed a €500 million Mortgage Pfandbrief issue on Wednesday. With this placement, pbb continued its thriving performance during the 2017 issuance year.

The Mortgage Pfandbrief has a term of 4.5 years and a coupon of 0.05% p.a. This is equivalent to a 6 basis points discount below the current reference swaps rate. Based on the re-offer price of 99.901%, the Pfandbrief has a yield of approximately 0.072%. This Pfandbrief was very well received by the market, with the majority of the issue allocated to Germany, accounting for just over 74%, followed by Nordics and Asia. The issue was managed by a syndicate comprising Barclays, Commerzbank, DekaBank, Landesbank Baden-Wuerttemberg as well as Nomura.

With this Mortgage Pfandbrief issue, pbb has followed up on various successful
funding activities conducted since the beginning of the year. Specifically, pbb issued a GBP300 million Mortgage Pfandbrief during the first week of January, and increased an existing Mortgage Pfandbrief benchmark by GBP50 million, to GBP550 million. pbb thus remains the largest issuer of Pfandbriefe denominated in pound sterling. The Bank has also been active in other non-euro currencies during January, increasing an existing US dollar Pfandbrief by USD100 million, to USD600 million. It also issued a SEK300 million Mortgage Pfandbrief. Finally, pbb placed a four-year, €500 million senior unsecured benchmark bond.

Key facts of pbb Deutsche Pfandbriefbank's Mortgage Pfandbrief

Maturity9th August 2021
Value date8th Februray 2017
German Securities ID (WKN) A2DASJ

Media contacts:
Walter Allwicher, +49 89 2880-28787, walter.allwicher(at)pfandbriefbank.com
Oliver Gruss, +49 89 2880 28781, oliver.gruss(at)pfandbriefbank.com