German lender pbb Deutsche Pfandbriefbank has issued a 鈧�500 mln senior unsecured benchmark bond. The bond has a coupon of 1.25% and a three-year tenor maturing on February 4, 2019.
German lender pbb Deutsche Pfandbriefbank has issued a 鈧�500 mln senior unsecured benchmark bond. The bond has a coupon of 1.25% and a three-year tenor maturing on February 4, 2019.
Pbb said the order book was 'highly diversified' and 'well oversubscribed' with orders totalling about 鈧�700 mln and over 100 German and international investors subscribing to the bond.
Foreign investors represented over 50% of demand.
The unsecured bond issue follows Pbb's placing in mid-January of a 鈧�750 mln mortgage Pfandbrief.
BayernLB, Commerzbank, Deutsche Bank, NORD/LB and UniCredit acted as Joint Lead Managers of the senior unsecured bond. Bankhaus Lampe and National Australia Bank acted as Co-Lead Manager.
