HSH prices tight Pfandbrief despite sea of troubles

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By Bill Thornhill
11 Jul 2017

HSH Nordbank issued a tightly priced €500m three year Pfandbrief on Tuesday. The transaction illustrates confidence in the safety of the Pfandbrief market, though little about conditions at the issuer.

After mandating joint leads Commerzbank, Natixis, NatWest Markets, UniCredit and its own syndicate team for its first Pfandbrief of the year on Monday, HSH Nordbank opened books for the public sector Aa2-rated three year deal on Tuesday.

The bond was priced at 10bp ...

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