Increased Wüstenrot Pfandbrief hits benchmark jackpot

Increased trading
By Bill Thornhill
13 Oct 2020

Wüstenrot Bausparkasse attracted exceptionally strong demand for its seven year Pfandbrief launched on Tuesday, causing the issuer to increase the deal’s size from an originally planned sub-benchmark size to benchmark. In so doing it further improved the scale and quality of the order book reflecting improved regulatory treatment and index inclusion for the deal.

Commerzbank, DZ Bank, LBBW and UniCredit were mandated to lead manage a new euro sub-benchmark mortgage Pfandbrief from Wüstenrot Bausparkasse on Monday with plans to issue a seven year mortgage Pfandbrief due October 2027, rated AAA by S&P. 

On Tuesday morning order books were opened with initial guidance of ...

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