Benchmark mortgage pfandbrief of HSH Nordbank successfully placed

Banking — By on March 29, 2012 at 3:25 PM
  • EUR 500 million issue almost three times oversubscribed
  • Strong demand from institutional investors

Hamburg/Kiel, 29 March 2012 – HSH Nordbank today placed a benchmark mortgage pfandbrief in the amount of EUR 500 million and a term of 5 years. The coupon is 1, 875 percent.

The issue price was set at 99, 891 percent, which equates to a re-offer spread of 33 basis points above the mid-market swap rate. The issue met with very strong demand from institutional investors inside and outside Germany. HSH Nordbank closed its book, by then almost three times oversubscribed, after less than an hour.

HSH Nordbank issued the mortgage pfandbrief as joint lead together with Commerzbank, DZ Bank, the Royal Bank of Scotland and UniCredit.

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