Berlin Hyp finds new names for second green Pfandbrief

Green 230
By Bill Thornhill
07 Jun 2017

Berlin Hyp (BHH) issued a tightly priced Pfandbrief on Wednesday, drawing strong demand for a rare deal backed by green commercial mortgage assets. At the same time the Mortgage Society of Finland mandated leads for a sub-benchmark transaction.

BHH opened order books with guidance of 12bp through mid-swaps on Wednesday. With 45 orders worth €900m, the joint leads Commerzbank, Crédit Agricole,JP Morgan, LBBW and UniCredit set the final spread at 14bp through mid-swaps representing a new issue premium of about 1bp. ...

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