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DZ HYP issues 10-year Pfandbrief


  • € 500 million bond
  • 3.25 per cent coupon
  • Strong investor demand

DZ HYP successfully executed its third benchmark transaction this year. The 10-year mortgage Pfandbrief comes with a coupon of 3.25 per cent and attracted strong investor demand.

The transaction was announced on Tuesday this week, in order to promote the bond. The syndicate consisting of BNP Paribas, DZ BANK, Erste Group Bank, ING Bank, Landesbank Baden-Württemberg and NatWest Markets accompanied the issue.

On Wednesday morning, the order book of the bond opened at a spread of 20 basis points over swap mid (vs. 6 month Euribor) and grew to around € 2 billion thanks to strong demand. Around 11:00 a.m., the order book was closed at a spread of +16 basis points. The final order book contained about 80 investors, most of them from Germany (79 percent).

"The strong appetite for our 10-year Mortgage Pfandbrief reflects the high level of trust investors place in DZ HYP and the German Pfandbrief. We would like to thank our investors for their loyal support over all these years," said Dr. Georg Reutter, Chairman of the Management Board of DZ HYP.