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DZ HYP. Because we can.

DZ HYP issues five-year mortgage Pfandbrief Order


  • Fourth benchmark bond in 2021
  • Strong demand underlines high investor interest

DZ HYP has taken advantage of the current constructive capital market environment and yesterday issued its fourth benchmark bond this year. With a maturity of five years, the shortest DZ HYP Hypothekenpfandbrief of the year was placed on the market in a volume of EUR 1 billion.

The marketing process for the bond started on Monday with the announcement of the transaction. After the order book opened on Tuesday morning shortly before 09:00, investors showed continuously strong demand, so that the issue volume of Euro 1 billion was reached after just one hour. In the course of the transaction, investor interest grew to over EUR 1.7 billion, giving DZ HYP the opportunity to achieve an attractive spread level at Mid Swap -3 basis points.

The final order book counted 59 investors from different regions. The largest share of the bond, 59.5 per cent, was placed in Germany. Strong demand also came from Scandinavia with 14.5 percent as well as Austria and Switzerland with a total of 9 percent. Asian investors participated with 7.5 percent. The remaining shares came from France, Italy and other jurisdictions.

With regard to the different types of investors, banks were most involved in the transaction with 46.8 percent. Asset managers with 27.8 percent and central banks with 17.6 percent also showed great interest. Development institutions accounted for 7.5 percent of the bond volume.

A syndicate consisting of DZ BANK, DEKABANK, ERSTE GROUP, ING, SCOTIABANK and SOCIETE GENERALE accompanied the transaction. With its fourth benchmark bond this year, DZ HYP continues to be a reliable and attractive Pfandbrief issuer in 2021.