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DZ HYP. Because we can.

DZ HYP Mortgage Pfandbrief generates great investor interest


  • Volume over 500 million euros
  • Maturity of ~8,1 years
  • Coupon is 3.0 per cent

DZ HYP impressively placed its third benchmark issue this year on Tuesday, 23 April 2024. The Mortgage Pfandbrief with a volume of EUR 500 million, a maturity until 31 May 2032 and a coupon of 3.0 per cent met strong investor interest. The issuance was accompanied by a renowned consortium consisting of DZ BANK, Bayern LB, Crédit Agricole, Nordea, Rabobank and Unicredit.

The transaction was announced on Monday afternoon. The order book opened on Tuesday morning with a spread of mid-swap plus 37 basis points (vs. 6-month Euribor) and generated a strong response.

The great interest shown by investors was reflected in the dynamic development of the order book volume, which peaked at 2.7 billion euros. Consequently, the final spread was set at mid-swap plus 29 basis points (vs. 6-month Euribor). The allocable order book for the 89 investors totalled 2.5 billion euros.

A high share of investors came from Germany (61.7 per cent). International investors from the UK & Ireland (12.4 per cent), the Nordics (9.1 per cent), Southern Europe (5.6 per cent), France (4.0 per cent), Austria & Switzerland (3.1 per cent) and the Benelux countries (3.1 per cent) also showed their interest.

The composition of investors shows an expected distribution, with 64.1 per cent from banks, 31.2 per cent from asset managers, 2.7 per cent from insurance companies and 2.0 per cent from central banks.

The successful placement of the issuance illustrates the high level of interest, trust and appreciation shown by investors for DZ HYP's Pfandbrief," commented Sabine Barthauer, CEO of DZ HYP.