Strong demand for DZ HYP’s Public Pfandbrief
16.10.2024
Issue size of €500 million
Six-and-a-half-year maturity
2.625 per cent coupon
DZ HYP successfully placed its fifth benchmark transaction of the year on Tuesday, 15 October 2024. The €500 million, six-and-a-half-year Public Pfandbrief has a coupon of 2.625 per cent.
Marketing for the Pfandbrief placement began on Monday, 14 October 2024, with the announcement of the issue, which was executed by a syndicate of banks comprising ABN AMRO Bank N.V., Barclays Bank Ireland PLC, DZ BANK AG, Landesbank Baden-Württemberg, NATIXIS and UniCredit Bank GmbH.
The order book was opened on Tuesday morning, with a spread of 37 basis points over mid-swaps (vs. 6-month Euribor). Thanks to the high and consistent investor demand, the book rose to just under two billion euros. The final spread was fixed at 31 basis points over mid-swaps.
The final order book comprised 67 individual orders, with German investors accounting for the 52 per cent majority. Demand in the Nordic countries (23 per cent) and Eastern Europe (15 per cent) was also strong. Investors from Austria/Switzerland and from the Benelux countries also participated, each accounting for 4 per cent of the order book.
Sabine Barthauer, CEO of DZ HYP, commented: “DZ HYP has continued its successful issuing activity in 2024 with this Public Pfandbrief issue. The strong demand that it generates in such a challenging market environment is testament to this Bank’s placement power, both in Germany and in Europe. We would like to thank all investors for the trust they have placed in us.”
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