Helaba issues first negative yielding covered bond

Negative_yield_percentage_postive_Adobe_230x150
By Bill Thornhill
26 Jun 2019

Landesbank Hessen-Thüeringen Girozentrale (Helaba) sold the first negative yielding covered bond since 2017 on Wednesday, attracting good demand for the €750m five year Pfandbrief.

After mandating lead managers on Tuesday, Helaba opened order books on Wednesday for a five year mortgage Pfandbrief (—/—/AAA) due July 2024 with initial guidance at flat to mid-swaps.  

Lead managers on the deal were DZ Bank, Helaba, ING, Société Générale and UBS.

With ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial