Deutsche Pbb finds lukewarm demand in pref senior

By David Freitas
29 Aug 2019

Deutsche Pfandbriefbank was marketing a five year senior preferred bond in the euro market on Thursday. The deal was launched at a spread unmoved from price thoughts, with order books only €125m larger than the deal size.

The German lender set the size at €500m from the outset and chose Commerzbank, DZ Bank, HSBC and LBBW to run the deal.

The lead managers used comparable transactions such as Deutche Pbb's 0.75% February 2023s, Aareal Bank's 0.375% Jul 2024s, Commerzbank's 0.5% December ...

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