Hamburg/Kiel, 29-Apr-2016 — /EuropaWire/ — HSH Nordbank has taken advantage of the currently favourable market to refinance with a large-scale capital market transaction. The Bank has issued a mortgage Pfandbrief with a seven-year term and a volume of € 500 million.
The order book came to about € 800 million after just a few hours and was closed near midday. The transaction extends the curve of outstanding, liquid Pfandbriefe to the year 2023. Moody’s has rated the Pfandbrief Aa3.
“The timing for large-scale Pfandbrief placements is currently favourable, liquid transactions enjoy strong investor demand”, said Ralf Löwe, Head of Funding at HSH Nordbank. “This is also a clear sign to us as a bank that our profile is getting the attention of the market.”
The fixed-income Pfandbrief is collateralised by loans largely on commercial real estate in Germany. The annual coupon is 0.375 percent. Foreign investors accounted for around 40 percent of the issue. Alongside HSH Nordbank, BNP Paribas, Commerzbank, DZ Bank and Nomura participated in the transaction.
HSH Nordbank uses Pfandbriefe as a key instrument in refinancing. The target group are institutional investors based both in and outside Germany. HSH Nordbank successfully placed a large-volume public-sector Pfandbrief as recently as February 2016.
HSH Nordbank AG
Max Löbig
Spokesman
Phone +49 40 3333-11414
Fax +49 40 3333-611414
E-mail max-valentin.loebig@hsh-nordbank.com
The information contained in this press release does not constitute an offer for the sale of any type of HSH Nordbank AG securities. Securities of HSH Nordbank AG may not be sold in the United States without registration pursuant to US securities legislation, unless such a sale takes place on the basis of relevant exceptional provisions.
This press information can contain forward-looking statements. These statements are based on our beliefs and assumptions, on information currently available to us which we consider reliable. Forward-looking statements include all statements which are not historical facts, including information concerning future growth prospects and future economic developments.
Such forward-looking statements are based on assumptions relating to future events and are subject to uncertainties, risks and other factors, a large number we cannot influence. Thus actual events can differ considerably from the forward-looking statements made. We make no warranty for the correctness or completeness of these statements or the actual occurrence of the statements made. Furthermore, we assume no obligation for updating the forward-looking statements after this information has been published.
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