Deutsche Pbb sterling debut 'ticks all the boxes' despite weak demand

By David Freitas
14 Nov 2019

Deutsche Pfandbriefbank (Pbb) had been spying a chance to tap the sterling market since August for an inaugural senior transaction. The German bank found a good window this week and, even though it attracted only just enough orders to launch the £250m preferred senior bond, a banker on the deal said the trade "ticked all the boxes".

Deutsche Pbb first indicated that it was looking to break into the sterling market in August, when it met with investors to discuss the potential for a preferred senior transaction.

On Wednesday the bank opened books on a three year preferred senior bond with initial price thoughts in ...

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