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12.10.2021

Berlin Hyp AG

Berlin Hyp issues 8-year Jumbo Pfandbrief

Berlin Hyp yesterday issued its fifth benchmark-sized mortgage Pfandbrief in 2021and at the same time the first Jumbo issue in more than two years. The term is just over eight years.

The EUR 1 billion Mortgage Pfandbrief has a maturity in January 2030, carries an interest coupon of 0.125% and is rated Aaa by Moody's. The yield at re-offer was 0.133%.

On Monday morning at 9.00 a.m. the syndicate banks mandated by Berlin Hyp - ABN Amro, BayernLB, Crédit Agricole CIB, DZ Bank and HSBC -opened order books with a spread guidance at mid-swap +1 basis point. Bankhaus Lampe acted as a co-lead manager. After just one hour, orders worth more than 1 billion euros had been collected. After the first order book update, the momentum remained strong and drove order volume to grow to more than 1.6 billion euros. This enabled the issuer to fix the bond volume at 1 billion euros. The syndicate banks closed the books at 11.00 a.m. and fixed the re-offer spread at mid-swap -2 basis points. The final book included orders for 1.46 billion euros from more than 50 investors. Slightly less than 30% went to savings banks and other companies of the savings banks financial group.

At 83%, the majority of the Pfandbrief went to Germany. Abroad, Dutch (6.5%) and Nordic investors (4.7%) showed particular interest.
Banks ordered 39% of the issue, while central banks and public institutions participated with 33%. Pension funds and insurance companies subscribed to 17% of the issue while 11% went to asset managers.

"We are very grateful for investors’ renewed great vote of confidence in us. A Jumbo transaction is still something very special for us. We are therefore all the more pleased about the strong interest and the recognition expressed for our intensive investor work," said Maria Teresa Dreo-Tempsch, Member of the Board of Management of Berlin Hyp.

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Press contact
Nicole Hanke
Communications and Marketing
T +49 30 2599 9123
nicole.hanke@berlinhyp.de

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