HCB offers to repurchase covered bonds as it shrinks its balance sheet
Hamburg Commercial Bank is offering to buy back up to €1bn of its Pfandbrief notes, as the newly privatised German lender seeks to reduce its assets and liabilities in line with one another.
HCB said it would repurchase any and all of its €500m 0.1% covered bonds due in July 2020 and its €500m 0.125% notes due in February 2021.
It is offering to pay cash pricees of 100.41 and 100.67 respectively, which a spokesperson for the bank described as including ...Please take a trial or subscribe to access this content.
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