DZ HYP places €500 million Mortgage Pfandbrief

• Benchmark bond with term of 4.8 years 
• 3.25 per cent coupon

On 3 September 2026, DZ HYP successfully placed a €500 million Mortgage Pfandbrief on the capital markets during a busy issuance period. The benchmark bond carries a 3.25 per cent coupon and is due to mature on 30 June 2031. 

The transaction was managed by a syndicate comprising Crédit Agricole Corporate and Investment Bank, Deutsche Bank AG, DZ BANK AG, Landesbank Hessen-Thüringen Girozentrale, Standard Chartered Bank AG and Swedbank AB.

Having been announced the previous day, the order book was opened on Thursday morning with a spread of mid-swaps plus 20 basis points over 6-month Euribor. Based on an allocable order book volume of €1.9 billion (with 73 individual orders), the final spread was fixed at mid-swaps plus 13 basis points. 

Geographically speaking, investors from Germany, Austria and Switzerland were the largest group, accounting for 47 per cent of the allocated order volume. This was followed by investors from Southern Europe (20 per cent), Denmark and Norway (11 per cent), Africa (10 per cent) and the Netherlands and Luxembourg (6 per cent). Investors from other regions made up 6 per cent of allocated orders.

Banks were the main investor type, with a share of 45 per cent, followed by asset managers and funds (28 per cent), central banks and official institutions (17 per cent), and insurance companies and pension funds (10 per cent).