Berlin Hyp enjoys strong demand for third green Pfandbrief

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By Bill Thornhill
12 Oct 2018

Berlin Hyp’s (BHH) third green Pfandbrief attracted a solid oversubscription ratio on Friday, and though the deal offered a hefty concession to its own curve, the pricing was tight compared with other recent deals.

Berlin Hyp opened order books on Friday for its third green mortgage Pfandbrief with initial guidance of 4bp through mid-swaps.  

After one hour orders for the Aaa-rated €500m no-grow deal rose to more than €600m. After two hours, when orders stood at €850m, the spread was refined to 6bp ...

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