BHH just misses negative yield with green Pfandbrief
Berlin Hyp this week attracted strong and broad interest for a green mortgage Pfandbrief that, thanks to a small rise in yields since the deal was mandated, narrowly avoiding being priced with a negative return.
Lead managers Crédit Agricole, HSBC, JP Morgan, LBBW and Natixis opened order books on Wednesday for the Aaa rated €500m no-grow German green mortgage Pfandbrief with initial guidance of 1bp over mid-swaps.When the deal was mandated on Tuesday eight year mid-swaps were yielding around minus 2bp ...
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