BSH to follow Wüstenrot’s Pfandbrief lead

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By Bill Thornhill
14 Oct 2020

Bausparkasse Schwäbisch Hall (BSH) mandated leads for its debut covered bond on Wednesday. The benchmark sized deal will take advantage of the strong demand seen for Tuesday’s Pfandbrief from German building society peer, Wüstenrot Bausparkasse.

After completing a roadshow, BSH mandated Commerzbank, DZ Bank, LBBW, Natixis and UniCredit for the €500m 10 year deal that is rated Aaa by Moody's. 

Wüstenrot Bausparkasse managed to attract an order book of €1.6bn for its similarly rated seven year mortgage covered bond on Tuesday at 7bp over ...

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