HCB offers to repurchase covered bonds as it shrinks its balance sheet

Hamburg_Commercial_Bank_Alamy_230x150_061119
By Tyler Davies
06 Nov 2019

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.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.