Dekabank surprises with swift pref bond sale

Dekabank_Alamy_230x150
By David Freitas
14 Nov 2019

Dekabank was quick to launch a preferred senior bond on Thursday, garnering 2.5 times the demand it needed for its €500m print by mid-morning in London. The German lender only ended up paying a small new issue premium to its investors.

Lead managers Commerzbank, DekaBank, DZ Bank, Erste Group, Swedbank were marketing the seven year preferred senior transaction for DekaBank Deutsche Girozentrale.

The German lender had set the size at €500m from the outset for the Aa2/A+/— transaction.

By 9.30am in London, the bookrunners had ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial